Uranium

Uranium spot price seems to be stabilizing off with volume climbing to record level in 2011. The spot price at year end was $52 per pound U3O8 after the crisis at the Japanese nuclear power facility in March.

Despite the uranium spot price volatility, the uranium market set a new spot volume record of 45.8 million pounds U3O8 which surpassed spot volume of 42.8 million punds U3O8 in 2010. This was the high level recorded in two decades.

"Fourth quarter sales of more than 9 million pounds brought 2011 spot market volume to a new record level, as traders, uranium producers, and financial entities attempted to place material before year end," TradeTech President Treva E. Klingbiel said.

"Presently, spot uranium supply remains extremely thin as most sellers hold firm to offer prices and wait for increased demand during the first quarter of 2012. Demand is expected to gain momentum in January, with price volatility returning to the market as activity increases," Klingbiel added.

You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.