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Michael Filloon
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I am an energy investor and author of the Bakken Update. Specific interests in oil and gas producers in the Bakken, but also follows unconventional names throughout the U.S. My work also include oil service names and U.S. refiners. I work as a contributing editor for Shale Experts, and do... More
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  • TradeTech Update for December Uranium Spot Market 0 comments
    Jan 11, 2011 12:12 PM | about stocks: CCJ, DNN, URG, URZ, CXZ, URRE, USU, UEC, FRG, ES, URA, NLR, NUCL, PKN, PALAF.PK

    December 31, 2010–December was a record month for the spot uranium market in many respects. The Exchange Value, which rose to $62.00 per pound U3O8, an increase of $1.75 from the November Value, is the highest value reported since September 2008. Over 2.2 million pounds U3O8 equivalent changed hands during December in 16 transactions, which brought total spot sales volume for the year to a record-breaking 42.8 million pounds U3O8 equivalent. The last time spot market activity was close to this level occurred two decades ago, when annual spot sales volume for 1990 totaled 40.6 million pounds U3O8. This record volume helped propel the Exchange Value from $42.25 at the beginning of the year to its current level.

    The ambitious nuclear program in China and announcements last month of two new contracts for the purchase of long-term uranium attracted renewed attention from the financial and investment sectors and helped propel the price movement. The emergence of significant mid- and long-term demand combined with discretionary buying to exert further upward pressure on prices during the fourth quarter.

    The spot uranium price did take a slight dip mid-month as several sellers—including producers, traders, and intermediaries—came to the market seeking to place material before year end. This material was quickly absorbed, however, and prices firmed. Currently, spot supply is extremely thin with most sellers now holding firmly to offer prices and looking ahead to rising demand during the first quarter of 2011.

    This information is from the Tradetech page and can be found at http://www.uranium.info/index.cfm?go=c.page&id=103



    Disclosure: I am long DNN, URG.

    Additional disclosure: I trade many of the names of the US indexes, could at any time add to current positions or possibly start a position in any of the stocks listed
    Themes: uranium, nuclear Stocks: CCJ, DNN, URG, URZ, CXZ, URRE, USU, UEC, FRG, ES, URA, NLR, NUCL, PKN, PALAF.PK
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