The Market

摘要

As many traveled to London last week for the WNA workinggroup meetings and others travel to Washington, DC, forthis week’s NEI NFSF meetings, spot market activity hasbeen relatively quiet during the beginning of January, althoughactivity is starting to pick up. Several entities, includingutilities, have reportedly shown interest in spot purchasesover the past week or so, with a small flurry of deals done thispast Thursday and Friday following the WNA meetings. Atotal of seven transactions involving about 900,000 poundsU_3O_8 were reported as awarded, bringing the total volume forJanuary to about 2.8 million pounds U_3O_8 under 16 transactions.Many market participants are also looking forward tothe results of the recent round of term offers that were submittedover the past week. In the meantime, spot activity islikely to regain momentum as the new year ramps up followingthe holiday season, and some entities also have access tonew budgets. A cross section of potential buyers – includingutilities, producers, traders, financials, and others – havenoted renewed attention to the spot and potential mid-term deliveriesover and above the current and potential demand forterm delivery. Based on recent activity as well as currentlyavailable bids and offers, the Ux U_3O_8 Price increases to$28.70 per pound, up $0.05 for the week. Prices for deliveryat Cameco remain at a premium over this level. The Ux 3-Year and 5-Year U_3O_8 Forward Prices are unchanged thisweek at $32.00 and $35.00 per pound.