“Considering the apparent severity of the nuclear accident in Japan and the worldwide public reaction, a period of uncertainty and resulting price volatility is inevitable for the uranium market," said TradeTech President Treva E. Klingbiel.
Englewood, CO (PRWEB) March 21, 2011
Denver, CO, Mar 21, 2011–TradeTech’s Daily Uranium Spot Price (1) today climbed to US$60.00 per pound uranium oxide (U3O8)—a $7.00 or 13 percent increase—as the uranium market continued to react to the nuclear crisis in Japan, following the powerful earthquake and tsunami that struck the northern region of the country on March 11.
TradeTech’s uranium spot price fell more than 20 percent in the days following the natural disasters that left Japan’s Fukushima Daiichi nuclear station battling numerous reactor problems and settled at $53.00 per pound U3O8 on Friday, March 18. Today’s price rebounded 13 percent, as 21 transactions involving a total of more than 3.6 million pounds U3O8 were concluded last week, which removed the most aggressively priced supply from the market. The price was also supported by unanticipated discretionary demand and positive reports from Japan that electricity has been partially restored at the Fukushima station from an off-site power supply.
Going forward, the psychological effects of the accident at Fukushima are expected to result in a period of uncertainty in the market and the uranium spot price will likely fluctuate based on news reports and the success of efforts to stabilize the reactors, TradeTech noted in its March 18 "Nuclear Market Review."
“Considering the apparent severity of the accident and the worldwide public reaction, a period of uncertainty and resulting price volatility is inevitable. Ultimately, if the actions of regulators in the aftermath of the accident result in additional plant delays or cancellations, both the spot and long-term uranium markets for uranium will be adversely affected,” said TradeTech President Treva E. Klingbiel.
Similar to TradeTech’s weekly and monthly price indicators, the Daily Uranium Spot Price Indicator reflects the company’s judgment of the price at which spot and near-term transactions for significant quantities of natural uranium concentrates could be concluded on a daily basis.
The Daily Uranium Spot Price Indicator complements TradeTech’s Weekly Uranium Spot Price Indicator, published each Friday in the Nuclear Market Review, and the company’s monthly Exchange Value published in the month-end issue Nuclear Market Review.
(1) TradeTech’s Daily Uranium Spot Price Indicator is published to paid subscribers Monday through Friday, with the exception of US Federal government holidays. The Daily Uranium Spot Price Indicator is expressed in US dollars and is based on data from recently completed transactions and/or pending transactions, and firm bids to buy and firm offers to sell uranium concentrates on the spot uranium market.
TradeTech publishes the Nuclear Market Review (NMR) each Friday evening, which reports the Weekly Uranium Spot Price Indicator, uranium trading activity, industry news, and market data. The monthly edition of the NMR, published on the last day of each month, includes TradeTech Market Values (Exchange Value, UF6 Value, Loan Rate, Conversion Value, SWU Value, and Transaction Value) and Mid- and Long-Term Price Indicators, as well as analysis related to these price determinations, supply/demand information, and industry news. TradeTech also publishes The Nuclear Review, a monthly trade publication dedicated to the international uranium and nuclear energy industry.
TradeTech, and its predecessor companies–NUEXCO Information Services, CONCORD Information Services, and CONCORD Trading Company–has supported the uranium and nuclear fuel cycle industry for more than 40 years, and is widely recognized for its expertise in trading activities and its comprehensive knowledge of the technical, economic, and political factors affecting this industry. TradeTech provides expert market consulting, participates in the buying and selling of uranium products and services, and maintains an extensive information database on these industries.
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