Washington — The daily spot price of uranium Monday was $36.50/lb U3O8, down $1.15 from October 20, following a week when sellers accepted incrementally lower offer prices, according to price reporting company TradeTech.
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The U3O8 daily spot price has declined nearly every day since TradeTech reported it at $37.75/lb October 16 and 19. The price was $37.65/lb October 20, $37.35/lb the next day, $37/lb October 22 and $36.50/lb on October 22, according to the company, which reported the spot price unchanged Monday.
In its report Friday for the week ended that day, TradeTech said, "a few sellers did attempt to draw out additional buying interest by lowering offer prices. A few buyers did step into the market to take advantage of lower prices, but most buyers remained largely disinterested."
Overall, it reported an aggregate of 700,000 lb of U3O8 in six transactions were concluded for the week ending Friday, "with prices declining with each successive transaction."
TradeTech on Friday reported the weekly U3O8 spot price at $36.50/lb, down $1.25 from October 16.
Price reporting company Ux Consulting on Monday also reported a $36.50/lb weekly U3O8 spot price, down $1.25 from October 19.
"Utilities and buyers are taking a wait-and-see attitude until they deem the [U3O8 spot] price to be at an attractive level, and then they'll start buying again," a market source said Friday.
Ux on Monday reported a Broker Average Price -- based on information from Evolution Markets and Numerco Ltd. -- of $36.50/lb, down 38 cents from Friday. The bid-offer spread was $36.13/lb-$36.88/lb, with both the bid and offer 37 cents lower than Friday. The Platts NuclearFuel range for the week is $36.75/lb-$37.75/lb.