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Aug 15, 2014 - The spot uranium price rose again this week, increasing $0.75 to $30.50 per pound U3O8 and marking the third consecutive week that prices moved up after languishing for most of the summer. The turnaround in price caused transactional activity to slow as the gap between willing buyers and willing sellers widened. Three transactions are reported this week. This number is likely to jump next week when several utilities that are active in the market are expected to accept offers. One US utility is currently evaluating spot offers for over 300,000 pounds U3O8 equivalent to be delivered in 2014, along with mid-term offers for deliveries in the 2015-2017 period. Offers are due on August 18, to another US utility seeking up to 500,000 pounds U3O8 equivalent for delivery in September this year. And, one non-US utility is evaluating offers for approximately 250,000 pounds U3O8 equivalent. The emergence of firm demand in the market, combined with political and legal uncertainties stemming from the ConverDyn vs. the US Department Energy lawsuit and unease over sanctions against Russia, has encouraged sellers to increase their offer prices. Buyers, however, have so far been unwilling to match the pace. While the banking and dual use language included in the most recent round of sanctions has raised anxiety levels among market participants, current US and European sanctions against Russia do not specifically address nuclear fuel. Delivery location and form remain determining factors in prices for natural uranium. Currently, buyers are willing to pay higher prices for delivery in Europe, while UF6 continues to be offered at a discount from its component prices. As a result, a wide range of prices have been reported in the market depending upon these factors. TradeTech’s Weekly U3O8 Spot Price Indicator is $30.50 per pound U3O8, up $0.75 from last week’s value and unchanged from the August 14 Daily U3O8 Spot Price Indicator. read more