The daily spot price of uranium was $36/lb U3O8 Monday, unchanged from November 16 and November 9, as buyers continue to show only tepid interest in buying material, according to price reporting company TradeTech.
The daily spot price has remained at $36/lb over the course of 12 trading days, November 5-23, after holding steady at $35.75/lb October 30 to November 4, according to TradeTech's daily price reports.
"A few sellers are actively seeking to place material, but have not demonstrated a strong willingness to reduce prices ... to conclude business," the company said Friday in its report for the week ended that day.
"Six transactions totaling 700,000 pounds U3O8 are reported for the week" ended Friday, it said, adding, "the majority of buyers have covered their needs for 2015, and into early 2016, and are not highly motivated" to make additional U3O8 purchases.
TradeTech November 20 also reported the weekly U3O8 spot price at $36/lb, unchanged from the weekly price it reported November 13 and November 6.
Price reporting company Ux Consulting reported November 23 a weekly spot price of $36/lb, unchanged from the weekly price it reported November 16 and November 9.
One market source interviewed Friday said the relatively static daily spot price is a factor limiting utility buying. "[T]here has to be a driver for utilities to act, such as prices moving up. If they see prices of material rising, they likely will buy to get a better deal before prices rise more," he said.
Ux Monday reported a Broker Average Price -- based on information from Evolution Markets and Numerco Ltd. -- of $36.11/lb, unchanged from Friday. The BAP has held at $36.11/lb over three trading days, November 19-23.
The bid-offer spread Monday was $35.85-$36.38/lb, with both the bid and offer unchanged from Friday. The Platts Nuclear Fuel range for the week is $35.75/lb-$36.50/lb.
