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TradeTech Uranium Spot Price Reaches Two-Year High in 2010 — Highest Spot Price Recorded Since August 2008

TradeTech Uranium Spot Price Reaches Two-Year High in 2010 -- Highest Spot Price Recorded Since August 2008

Denver, CO (PRWEB) January 3, 2011

A declining trend in uranium prices that began with the global financial crisis in 2008 and continued into 2009 was reversed in 2010, as TradeTech’s Uranium Spot Price Indicator climbed nearly 40 percent to US$ 62.00 per pound uranium oxide (U3O8) by year end.

TradeTech’s uranium spot price began the year at $ 44.50 per pound U3O8 and fell to an annual low of $ 40.50 on February 28, before prices began to strengthen at mid year. The price increase was spurred further in November when the spot price rose above the $ 60.00 level for the first time since August 2008. “China’s ambitious nuclear power expansion plan and the signing of two new contracts for its long-term uranium supply attracted renewed interest from the financial and investor sectors and propelled the price movement,” said TradeTech President Treva E. Klingbiel. “Additionally, the emergence of significant mid- and long-term demand combined with discretionary buying to exert further pressure on prices during the fourth quarter,” Klingbiel said.

The increase in the spot price was also supported by record spot market activity, with annual spot sales volume reaching 42.8 million pounds U3O8. The last time spot market activity was close to this level occurred two decades ago, when 1990 spot sales volume totaled 40.6 million pounds U3O8. “December sales of more than 2.2 million pounds U3O8 brought 2010 spot market volume to the record level, as producers, traders, and intermediaries attempted to place material before year end,” 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 2011. While spot demand is forecast to increase in the first quarter of this year, January is a traditionally slow month for the uranium spot market and prices are expected to remain firm or increase slightly, TradeTech noted in its December 31Nuclear Market Review.

About TradeTech

TradeTech publishes the Nuclear Market Review (NMR) each Friday evening, which reports the weekly uranium spot market price, 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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