Uranium price update thread

[bravo]

TAKE A LOOK-Reuters stories on uranium
Mon Sep 10, 2007 2:47PM BST

With uranium prices hitting an all-time high of $136 per
pound in June -- up from $7 in year 2000 -- and more governments
embracing nuclear energy, interest in the sector is booming. The
World Nuclear Association Symposium in London examines the state
of the industry, and where it is headed.

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Recent stories can be seen by double clicking on the code in
brackets. [ ]
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[lancer]

Uranium price stays the same, which is great news in my opinion. This from Trade Tech:

In the wake of the dramatic price decline in the spot uranium price during August, the first week of September has been extremely quiet with no new demand reported and no transactions concluded. As a result, TradeTech’s Uranium Spot Price Indicator is unchanged from the August 31 Exchange Value at $85.00 per pound U3O8. A US producer officially issued a Request for Bids for the sale of up to 300 thousand pounds U3O8 for delivery in September. Bids are due to the producer no later than September 11.

Additional buyers are showing renewed interest in entering the uranium market. Nevertheless, these buyers can still be categorized as discretionary in nature with no active “must have” demand reported. As such, there is a wide variation of price expectations among potential buyers and sellers. However, the gap between what buyers are willing to bid and sellers are willing to offer has narrowed considerably from the gap that has persisted for the past month.

 

[lancer]

U is now at $75, hope that is far as it will go....

 

[eMark]

U is now at $75, hope that is far as it will go....

Well that explains the lame performance of PDN on the Toronto exchange and todays ASX.

 

[eMark]

Not sure as to the 'level' of signifigance, but the 'spot' price for Uranium for December shot up $8.50 overnight

Contract-------------Month---Time----Last---Chg-Open--High--Low
URANIUM U308 SWAP Dec '07 15:49:21 84.50 s 8.50 83.50 84.50 83.50

Delayed data retrieved on Oct 13 06:41:03 GMT • All quotes are in exchange local time • Data provided by FutureSource
s - Settlement Price y - Yesterday's Settlement Price e - Estimated

Chart

http://futuresource.quote.com/charts/charts.jsp?s=XUX%20Z7

 

[lancer]

Not sure as to the 'level' of signifigance, but the 'spot' price for Uranium for December shot up $8.50 overnight

Contract-------------Month---Time----Last---Chg-Open--High--Low
URANIUM U308 SWAP Dec '07 15:49:21 84.50 s 8.50 83.50 84.50 83.50

Delayed data retrieved on Oct 13 06:41:03 GMT • All quotes are in exchange local time • Data provided by FutureSource
s - Settlement Price y - Yesterday's Settlement Price e - Estimated

Chart

http://futuresource.quote.com/charts/charts.jsp?s=XUX%20Z7

Mark, How does this price you are referring to relate to the current prices for U being purchased on sites such as tradetech.com?

 

[lancer]

U price up $3

In the Market ...
The uranium spot market showed the first signs of strengthening this week, after 16 weeks of falling or flat prices, with TradeTech’s Uranium Spot Price Indicator increasing $3.00 to $78.00 per pound U3O8. Buyers have begun re-entering the market and four transactions are reported. In recent months, a number of sellers have been motivated by cash needs, lowering offer prices or accepting bids below the current market price in order to secure sales. These sellers have now successfully placed the majority of this material and appear to have satisfied their near-term requirements. With this supply removed from the market, sellers, sensing that the market has reached an inflection point, are cautiously moving their offer prices up.

 

[eMark]

Mark, How does this price you are referring to relate to the current prices for U being purchased on sites such as tradetech.com?

Lancer

Sounds to me from your last post, you have worked it out, but from mid-April NYMEX launched uranium futures contracts. Where day to day, the monthly futures contract pricing can change. This is different to the week to week spot price. I mis labled to my last post as a 'spot' price, whereas I meant futures market instead.

 

[eMark]

Spot Uranium Up By 4% - The End Of The Tunnel?
FN Arena News - October 16 2007

By Rudi Filapek-Vandyck

The news that industry consultant TradeTech has lifted its weekly spot price indicator for U3O8 (uranium concentrate, otherwise known as yellow cake) is spreading fast throughout the global financial sector.

According to the latest market update the weekly spot price now stands at US$78/lb, up 4% or US$3 from the previous week. According to our market sources, TradeTech has recorded four separate transactions over the week totalling 800,000 pounds of yellow cake.

There are unconfirmed reports going around that three out of four of these transactions involve financial players. Three of the reported deals were concluded at US$75/lb, with the fourth "at or very near US$78/lb". This last one is thus responsible for the price rise.

Equally bullish seems the fact that activity from US utilities seems to be increasing on the long term contract market. Our sources tell us that TradeTech reports new demand stems from a US utility which issued a RFP (request for proposals) for 3.6Mlbs. Delivery is for 2012-2017 and offers are due November 16th.

Also, eight other utilities are reported seeking 20Mlbs for delivery between 2007-2017 while several other utilities are believed considering (re)entering the market.

 

[powerkoala]

wow for the first time it's up $3
now at $78
hopefully it will be back to 100 again soon

 

[lancer]

Up another $2 to $80.

 

[eMark]

Spot Uranium Continues To Rise
FN Arena News - October 29 2007

By Rudi Filapek-Vandyck


The return of hedge funds and other financial speculators has led to a third price rise for spot U3O8 (uranium oxide) in three weeks with industry consultant TradeTech reportedly lifting its weekly price indicator by US$4 to US$84/lb on Friday.


According to the industry consultant, at least 350,000 pounds were sold via two separate transactions during the past week.

 

[powerkoala]

spot price now $85.
wow.. keep rising yellow cake

 

[eMark]

spot price now $85.
wow.. keep rising yellow cake

Also last nights (31/10/07) U futures for December was up another $5.30 to finish at $97.30

http://futuresource.quote.com/quotes/quotes.jsp?s=XUX&t=Future

 

[lancer]

Power,

Can I ask where you got the update from? Do you subscribe to an update? I am only aware it is updated at the beginning of each week through a couple websites.

 

[powerkoala]

Power,

Can I ask where you got the update from? Do you subscribe to an update? I am only aware it is updated at the beginning of each week through a couple websites.

http://www.uxc.com/review/uxc_Prices.aspx
regards

PS: most uranium stocks now fly high like crazy...

 

[eMark]

Power,

Can I ask where you got the update from? Do you subscribe to an update? I am only aware it is updated at the beginning of each week through a couple websites.

For the weekly spot price take a look at www.fnarena.com

They tend to announce significant changes at the beginning of the week. It's also a great site.

For the monthly futures price, see my link in a couple of posts above.

 

[powerkoala]

wow... today's most of uranium stocks go nuts.
WMT now up 30%
URA up 22%
SNU up 18%
PEN up 16%
BLR up 14%
and the list goes on and on.......
looks like uranium hype is back...
is it only for today or .......... ???

 

[moses]

Not to mention MTN which shot up at the last moment. Looks like I bought in not a moment too soon...

 

[lancer]

yeah, I wonder if there was a sale at a higher price than $85 or if the ccj/cco and Uranium one played a big part or if it was just time for a big boost or all three?