The daily spot price of uranium Tuesday was $26.30/lb U3O8, down 10 cents from Monday and the first change in the daily spot price since price reporting company TradeTech put it at $26.40/lb on June 29.
Market sources interviewed Friday attributed the spot price stability to the near absence of buyers and sellers.
"The market is floating along and no one sees anything happening over the next month or two," a market source said Friday.
The source, as did several others interviewed during the past three weeks, also noted some US utilities are adopting a just-in-time delivery model, reducing their uranium inventories.
Contributing to this, the source said Exelon Generation's June 2 announcement it will close its single-unit Clinton and two-reactor Quad Cities stations in Illinois in June 2017 and June 2018, respectively, "shook the utilities," noting the decision "raises concerns about the outlook for other plants."
"At utilities," he said, "senior management and [company] treasury [departments] are looking and saying, 'We have a lot tied up in inventory and do we need quite that much?'"
TradeTech reported a weekly spot price July 8 of $26.40/lb, unchanged from July 1.
Price reporting company Ux Consulting reported Monday a weekly U3O8 spot price of $26.40/lb, down 10 cents from July 4.
Ux on Tuesday posted a Broker Average Price of $26.44/lb, down 6 cents from Monday. The BAP had been $26.50/lb June 30-July 11. The BAP is based on information from Evolution Markets and Numerco Ltd., Ux said.
The BAP bid-offer spread Tuesday was $26-$26.88/lb, with the bid unchanged and the offer down 13 cents from Monday.
The Platts Nuclear Fuel range for the week is $26/lb-$26.75/lb.
