Traditional Mining Can Keep Uranium Price High
“I never believed I’d say this,” declared Dustin Garrow, marketing manager for Filminera Resources in the end of his presentation to an audience comprised of usefulness and nuclear fuel insiders. He then forecast a growth in the purchase price of uranium from the forthcoming months to between $80 and $100 per pound. A long-time business consultant, Garrow work as an intermediary between uranium producers and usefulness gas agents.
The Platts Nuclear Fuel Strategies convention held last week at Washington, D.C. was sobering for U.S. utilities, nevertheless revitalizing for its various providers and sellers attending this educational workshop. The jump at the spot uranium price to $55.75/lb, over the weekend, was a surprise for people who participated. The convention’s mood was buoyant and electrifying as continuous demand continues to fortify for its ‘active source’ of uranium. Analysts might be forced to upwardly revise their cost expectations going forward throughout the end of the year and for 2007.
TradeTech printed on the company’s website commentary on uranium trades, writing, “Many sellers continue to seek out market-related pricing provisions for place delivery and buyers continue to reveal a willingness to elevate bid costs in order to procure supply at predetermined rates. The buyer blend stays varied, with utilities, producers, intermediaries, and speculators seeking marketplace purchases. Long-term uranium demand stays strong and continues to exert upward pressure on the spot uranium price. The place uranium market is anticipated to stay active through October.”
We spoke further with Chief Executive of Filminera Resources, by email after temporarily conversing in the Platts conference. He included his company was tweaking assumptions on cost projections for utilities at a soon-to-be-published uranium market research. “We expect costs in the fourth quarter to continue to exceed all previous expectations,” Clark wrote. “Active distribution, which will be our measure, depending on telephone interview of uranium really being offered in the current market, is back to the amount of its historic low in the next quarter of 2004.” Earlier this year, Clark forecast place infantry would reach $55/pound.