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TradeTech's Uranium Prices
including definitions, derivations and comments
| NUEXCO Market Values | Date of First Publication | Date of Last Publication |
| Exchange Value | August 1968 | --- |
| Restricted/Unrestricted ** | October 1992 | August 2001 |
| Loan Rate | August 1968 | --- |
| Transaction Value | May 1976 | --- |
| Restricted/Unrestricted | December 1993 | August 2001 |
| Conversion Value | January 1981 | --- |
| North American/European | January 2000 | --- |
| UF6 Value | April 1985 | --- |
| Restricted/Unrestricted | October 1992 | August 2001 |
| SWU Value | January 1986 | --- |
| Restricted/Unrestricted | October 1992 | --- |
| Weekly Spot Price Indicator | March 1995 | --- |
| Restricted/Unrestricted | March 1995 | July 2001 |
| Long-Term Prices | March 1996 | --- |
| (U3O8/Conversion/SWU) |
The Exchange Value is our judgment of the price at which spot and near-term transactions for significant quantities of natural uranium concentrates could be concluded as of the last day of the month.
The Loan Rate is our judgment of the annual interest rate at which uranium loans could be concluded as of the last day of the month.
The Transaction Value is a weighted average price of recent natural uranium sales transactions.
The calculation is based on prices paid in:
a) Transactions closed within the previous three-month period for which delivery is scheduled within one year of the transaction date;
b) At least 10 transactions;
c) Transaction involving a sum total of at least 2 millions pounds equivalent U3O8.
The Conversion Value is our judgment of the price at which spot and near-term transactions for significant quantities of conversion services could be concluded as of the last day of the month.
The UF6 Value is our judgment of the price at which spot and near-term transactions of significant quantities of natural uranium hexafluoride could be concluded as of the last day of the month.
The SWU Value is our judgment of the price which spot and near-term transactions for significant quantities of enrichment services could be concluded as of the last day of the month.
The Weekly Uranium Spot Price Indicator is our judgment of the price at which spot transactions for significant quantities of natural uranium concentrates could be concluded as of the end of each Friday.
The Long-Term Prices for Uranium, Conversion, or SWU are our judgment of the base price at which transactions for long-term delivery of that product or service could be concluded as of the last day of the month, for transactions in which the price at the time of delivery would be an escalation of the base price from a previous point in time.
• All Market Values are expressed in terms of US dollars.
• All Market Values are based on:
- Data from recently completed transactions.
- Data from pending transactions.
- Firm bids to buy or borrow, and firm offers to sell or lend.
- Prices purchasers or rates borrowers have expressed a willingness to pay, but for which we are not aware of firm bids to buy or borrow and prices sellers or rate lenders have expressed willingness to accept, but for which we are not aware of firm offers to sell or lend.
• In the determination of all Market Values, we do not consider:
- Prices associated with deliveries under old or renegotiated contracts, or other than arm’s-length transactions.
- Charges for transportation other than that customarily provided by suppliers.
- Prices of services or materials delivered under long-term contracts with primary suppliers.
• In calculating the Transaction Value, we do not account for the price of uranium delivered in connection with contracts which call for “market price” mechanisms. This exclusion applies particularly to contracts in which delivery prices are expressed as a function of future Exchange Values or any other indeterminate variable. Also excluded from the calculation are any other transactions in which the delivery price is defined in such a way that it can not currently be determined.
• The sample time for the Transaction Value is extended for up to six months, if necessary to satisfy the minima for the number of transactions (10) and quantity of material (2 million pounds equivalent U3O8). The sample time is extended beyond six months only as necessary to include a minimum of five transactions and 1 million pounds equivalent U3O8. Any required currency conversions to US dollars are made on the basis of conversion rates in effect on or near the transaction date.
• The Restricted SWU Value applies to all services delivered in the USA and European Union, as well as non-Russian enrichment services delivered outside the USA and European Union.
• The Unrestricted SWU Value applies to all enrichment services delivered outside the United States and European Union.
** Unrestricted/Restricted Market Values were first applied in Review No. 301. The designation of Unrestricted/Restricted Market Values for uranium products was dropped in The Nuclear Review No. 398, since the Unrestricted Market distinction had become irrelevant with the cessation of US and European Union restrictions against all but Russian-origin uranium.
All rights to the names NUEXCO Review; NUEXCO Information Services; NUEXCO Market Values; NUEXCO Exchange Value; NUEXCO UF6 Value; NUEXCO Transaction Value; NUEXCO SWU Value; NUEXCO Conversion Value; NUEXCO Loan Rate, are the property of TradeTech, LLC, Denver, Colorado.
Copyright © 2007 TradeTech, LLC
