Uranium Prices Decline for a Second Week as Demand Drops, TradeTech Says

(Bloomberg) -- Uranium spot prices fell for a second
straight week as ``extremely weak'' demand from utilities forced
miners of the metal to settle for less, industry consulting
company TradeTech LLC said.

A decline by $2 to $133 a pound of uranium oxide concentrate
coincides with the volume of spot supply increasing by 28 percent
to 3.2 million pounds last week, while demand remained at 900,000
pounds, Denver-based TradeTech said July 6 in its weekly Nuclear
Market Review. The last time spot prices fell for two consecutive
weeks was in May 2001.


Read more at Bloomberg Energy News

Uranium May Reach $200 a Pound on Supply Shortfall, Macquarie Bank Says

(Bloomberg) -- Uranium spot prices may reach $200 a
pound within the next two years, buoyed by a shortfall in supply
and increasing investment in the nuclear fuel by speculators,
Macquarie Bank Ltd. said.

The price reached $125 a pound in mid-May, a 12-fold
increase since early 2003, underpinned by a shortage, concerns
over future production and a lack of investment in new capacity,
Sydney-based Macquarie said in a June 1 report. Spot prices will
probably average $125 a pound this year, rising to $135 next year,
Australia's biggest securities firm said.


Read more at Bloomberg Energy News