TradeTech Uranium Spot Price Seeks Stability, Spot Volume Climbs to Record Level in 2011
(firmenpresse) - DENVER, CO -- (Marketwire) -- 01/05/12 -- The year 2011 was a tumultuous period as uncertainty clouded the uranium market and (Bloomberg: TDTC) ended the year at US$52.00 per pound U3O8, amid record spot volume as the market continued to stabilize following the crisis at a Japanese nuclear power facility in March.
Early in the year the uranium market showed signs of stability as the spot price followed a strengthening trend that began in 2010, when the market was recovering from a global financial crisis that began in late 2008. TradeTech's Weekly U3O8 Spot Price Indicator had climbed to US$73.00 per pound U3O8 on February 4. However, the spot price settled at $67.75 on March 11, when Japan's Fukushima nuclear station was severely damaged by a devastating earthquake and tsunami.
As the crisis continued to unfold, buyers and sellers considered potential short- and long-term impacts of the events in Japan while the uranium market tried to regain stability. On August 26, the spot price fell to the lowest point of the year -- $48.85 -- before rebounding to $56.25 by mid November, when traders became more active and purchased the majority of material sold that month. As 2011 came to a close, spot market demand remained primarily discretionary and TradeTech's U3O8 Spot Price Indicator was $52.00 per pound U3O8, the company noted in its December 31 .
Despite price volatility affecting the spot uranium market throughout much of 2011, higher spot volume prevailed to set a new record of 45.8 million pounds U3O8, surpassing spot transaction volume of 42.8 million pounds U3O8 in 2010, the highest 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.
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.
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
Denver Tech Center
7887 E. Belleview Avenue
Suite 888
Englewood, CO 80111
Phone: +1 (303) 573-3530
Fax: +1 (303) 573-3531
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 05.01.2012 - 13:07 Uhr
Sprache: Deutsch
News-ID 1070421
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
DENVER, CO
Phone:
Kategorie:
Commodity Chemicals
Anmerkungen:
Diese Pressemitteilung wurde bisher 112 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"TradeTech Uranium Spot Price Seeks Stability, Spot Volume Climbs to Record Level in 2011
"
steht unter der journalistisch-redaktionellen Verantwortung von
TradeTech (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
