Media - In the Market
Update for the public provided three days after publication.
January 23, 2015 - Market participants gathered this week in Washington, DC for the Nuclear Fuel Supply Forum hosted by the Nuclear Energy Institute. Conference topics mainly focused on government regulation and trade issues, as well as the a US congressional outlook for this year. Uranium producers dominated much of the news this week. Paladin Energy was the most recent producer to release quarterly results. The Australia-based company reported production of more than 1.3 million pounds U3O8 for its second quarter ended December 31, and sales revenue of US$69.9 million. The Namibia Mining Report is predicting an increase in Chinese investment in the African nation’s mining sector. The report states that China will increasingly seek to control mineral assets to fuel the Asian country’s domestic uranium demand. Kazakhstan’s state nuclear company, Kazatomprom, signed a $450 million credit facility with foreign banks to help refinance its Eurobonds maturing in May. The loan deal was signed by Kazatomprom with a consortium of banks. The Uranium Producers of America (UPA) along with other industry parties, submitted answers to the US Department of Energy (DOE) in response to its Request for Information regarding transfers of its uranium inventory. Meanwhile, uranium spot market activity is on the rise with utilities, intermediaries, producers, and financial entities all expressing interest in potential purchases. A total of five transactions were concluded over the week. Intermediaries acted as sellers in all transactions. Buying interest is on the rise, and the emergence of formal and informal demand in recent weeks has led sellers to raise offer prices. Although demand has increased, the majority of buyers remain price sensitive and the gap between willing buyers and willing sellers widened. TradeTech’s Weekly U3O8 Spot Price Indicator is $36.75 per pound U3O8, an increase of $0.65 from last week’s value and unchanged from the January 22 Daily U3O8 Spot Price Indicator. read more