The spot price of uranium was about $28.25/lb Tuesday, unchanged from May 20, according to price publishing services.
"Prices have leveled off, rather than heading down almost every day, as was the case" near the end of the week ended May 16, one market source said Friday.
The spot price had remained at or near $29/lb from early May to mid-month, when it declined to $28.25/lb on May 16, price publisher TradeTech reported that day.
"The price moved down to [about] $28[/lb] late in the week [ended May 16], and this probably was done on about less than 500,000 lb, as a few US utilities each purchased 200,000-300,000 lb [of U3O8]," another market source said May 20.
"Low spot uranium prices have drawn some buyers into the market, but buying volumes remain too low to create any upward price momentum," TradeTech said Friday in its weekly report. "Four transactions totaling approximately 400,000 pounds U3O8 are reported for the week [ended Friday]."
Price publisher Ux Consulting, which publishes a spot price weekly, reported it at $28.25/lb on Monday, up 25 cents from May 19. TradeTech's daily spot price has remained unchanged at $28.25/lb from May 16 through Friday. It did not publish a daily spot price Monday, in observance of the US Memorial Day holiday.
The U3O8 spot price is at its lowest level since May 2005, according to Ux's data.
The Platts NuclearFuel range for the week was $27.75-$28.75/lb, unchanged from May 20.
TradeTech's daily spot price Friday was $28.25/lb, unchanged from Thursday. Ux did not publish a daily Broker Average Price, or BAP, on Monday, in observance of the US holiday. Its BAP on Friday was $28.31/lb, up 12 cents from Thursday. The BAP is based on information from Evolution Markets and Numerco, according to Ux. The BAP bid-offer spread Friday was $28.13-$28.50/lb, with the bid up by 25 cents and the offer unchanged from Thursday.
