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Uranium Miner conducts a weekly review of several major uranium suppliers, auctions, and brokerages to ascertain the market price of U3O8 per pound in US dollars.

 

Current Price: Effective August 4th, 2008 the market price of U3O8 is US $64.50/lb.* (Price unchanged +/-$0.00 since last survey a week ago). Click to see NYMEX Uranium Futures => Uranium Futures - NYMEX

  

* Considerations in determining spot price of Uranium: Data from recently completed transactions, data from pending transactions, firm bids to buy or borrow, firm offers to sell or lend, prices purchasers have expressed a willingness to pay but for which we are not aware of firm bids to buy, and prices sellers have expressed a willingness to accept but for which we are not aware of firm offers to sell. (Considerations not used in determining spot price: 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, and  prices of services or materials delivered under long-term contracts with primary suppliers).

 

Recent selected writings on factors affecting price:

July 28 Uranium price trending higher - StkH

July 15 Spot uranium price climbs with Nufcor raising cash - Reuters

July 4 Pluses and minuses for uranium prices - IBTimes

June 23 Uranium to Fetch $90 as Indian Reactors Drive Demand - Bloomberg

June 18 Spot uranium falls – again - $Web

May 20 Uranium Price Slump Unlikely to Extend Further - RI

May 6 Spot Uranium Bottoming? - FNArena

Apr 23 Uranium falls further, but demand expected to remain constant - FP

Apr 15 Spot uranium price falls to $68/lb - Reuters

Apr 14 Uranium Falls to 16-Month Low on Surplus Supply, TradeTech Says - Bloomberg

Apr 8 Spot Price Remains Unchanged - No Transactions or Demand - FNArena

Apr 4 Real uranium price should be $120/lb, Wits prof tells conference - Creamer

Mar 25 Uranium price could hit $US105/lb by September - MineWeb

Mar 25 Spot Uranium Remains at US$74/lb - FN24

Mar 10 ‘Equivalent’ uranium price should be $120/lb, Wits prof tells conference - MiningW

Mar 6 Uranium Price Review - FN24

Mar 5 Spot the uranium price in "sweet Spot" - $Web

Mar 4 Near-term uranium prices expected to weaken - FP

Feb 28 Denison Mines says uranium price near bottom - Reuters

Feb 19 Spot Uranium Stays at US$75/lb - FN24

Feb 4 Uranium prices seen "choppy" on low output - Reuters

Feb 1 Uranium demand will stay high, says miner - SMH

Feb 1 Energy Resources says realized uranium price to rise - MktW

Jan 29 Uranium Drops to Three-Month Low as Supply Expands - Bloomberg

Jan 29 Uranium stocks suffer . . . again - MoneyWeb

Jan 22 Strong demand to boost spot uranium price in 2008 - Reuters

Jan 21 Uranium Price Drops 6% as Trading Volume Dwindles - Bloomberg

Jan 17 $90/lb-$100/lb uranium price outlook, says researcher - MiningW

Dec 10 Salman Partners says uranium may hit $200/lb threshold in 2008 - MineWeb

Nov 29 Uranium at $150/lb within a year - MiningMX on Uranium One CEO

Nov 19 Spot U3O8 remains at US$93/lb - FNArena

Nov 8 Uranium shows signs of further strength as prices climb above US$90 - NP

Nov 7 Spot uranium up to $90/lb this week, seen higher - Reuters

Nov 4 TradeTech Uranium Price Continues to Strengthen - Trade Tech

Oct 29 Uranium prices climb again as speculators and hedge funds renew interest - NatPost

Oct 29 Speculators aid uranium price - SMH

Oct 25 Financial players may be key to uranium spot price resurgence - NP

Oct 25 Uranium prices hit bottom: Analyst - NP

Oct 23 Uranium prices rise again - FP

Oct 18 Paladin Says Uranium May Rise to $110 a Pound in First Quarter - Bloomberg

Oct 10 UBS Investment Bank analysts led by Dan Brebner in London lowered their 2008 estimate for the nuclear fuel to $95 a pound from $196.25 - Bloomberg Excerpt

Oct 3 Spot uranium down to US$75/lb as more metal available - MiningJ

Oct 1 Uranium price bounce expected with more nuclear stations planned - Citywire

Sep 24 Australia says 2008 uranium prices could fall on increased production - CMJ

Sep 19 Uranium Will Trade at $85 to $100 a Pound, RBC Dominion Says - Bloomberg

Sep 18 Targets on uranium stocks cut (US$75 forecasted by Raymond James) - G&M

Sep 7 Uranium One Says Price of Commodity to Rise to $150 - Bloomberg

Sep 6 Paladin bullish on uranium price - AAP

Sep 4 Uranium prices fall to six-month low - Money Web

Sep 4 Another Week, Another Decline For Spot Uranium - FN24

Aug 28 Trade Tech Puts Spot Uranium At US $95/lb - FN Arena

Aug 21 Spot uranium falls to US$90/lb - MiningJ

Aug 15 Uranium prices drop 24% - Purchasing

Aug 13 Uranium Falls to Lowest Since March, TradeTech Says - Bloomberg

Aug 13 Uranium in drop zone - Herald Sun

Aug 9 Slump dims uranium's spot price - Bloomberg

Aug 8 Spot uranium ticking lower - G&M

Jul 31 Uranium Prices Tumble Again After Steady Week - SeekA

Jul 30 Uranium Supplies Rise, Demand Is Unchanged, TradeTech Says - Bloomberg

Jul 30 Uranium Down - Airview

Jul 30 Uranium Price to Recover, Set New Records - Reuters

Jul 27 Uranium prices see largest weekly dip ever - FP

Jul 27 Uranium falls after Japan nuclear leak - FinT

Jul 25 Uranium spot price drops again to US$120 a pound; RBC forecasts further decay (Uranium-Prices) - CP

Jul 24 Spot uranium drops again - G&M

Jul 24 Cameco's series of unfortunate events - G&M

Jul 24 Cameco Production Delay May Cause Uranium Price Hike - SeekA

Jul 17 Northern Continental Resources Inc.: Diamond Drilling Begins on the Russell Lake Uranium Project - CP

Jul 16 Spot uranium back below US$130lb - FNArena

Jul 16 Spot uranium price drops third straight week - StockInterview

Jul 9 Uranium Bull Market Far From Over - SeekA

Jul 9 Spot Uranium Price Drops, But Niger Rebels Pressure Miners - SeekA

Jul 3 Uranium price falls for first time in four years - MiningJ

Jul 2 Spot Uranium Price Declines - Finch

Jun 25 Australian broker sees longevity in high spot uranium price - SCrossEqR

Jun 25 Uranium Demand Showing Price Weakness - Finch

Jun 11 Uranium prices could rise further with new auctions this week – prices should peak in 2007 and 2008, RBC says - NatPost

Jun 11 Uranium will peak in 2009, Lehman says - Moneyweb

Jun 11 Four Uranium Auctions in 17 Days - Resurcex

Jun 5 Uranium prices continue to climb - G&M

Jun 5 Uranium May Reach $200 in Two Years, Macquarie Says - Bloomberg

Jun 5 Uranium price still bubbling - FP

Jun 1 Uranium market heating up - Nat Post

 

Historical Values (in USD):

  • July 08 $64.50

  • June 08 $59.00

  • May 08 $60.00

  • Apr 08 $65.00

  • Mar 08 $71.00

  • Feb 08 $73.00

  • Jan 08 $78.00

  • Dec 07 $90.00

  • Nov 07 $93.00

  • Oct 07 $84.00

  • Sep 07 $85.00

  • Aug 07 $90.00

  • Jul 07 $120.00

  • Jun 07 $138.00

  • May 07 $133.00

  • Apr 07 $113.00

  • Mar 07 $95.00

  • Feb 07 $85.00

  • Jan 07 $75.00

  • Dec 06 $72.00

  • Nov 06 $63.00

  • Oct 06 $60.00

  • Sep 06 $54.00

  • Aug 06 $48.50

  • Jul 06 $47.25

  • Jun 06 $45.50

  • May 06 $43.00

  • Apr 06 $41.50

  • Mar 06 $40.50

  • Feb 06 $38.25

  • Jan 06 $37.50

  • Dec 05 $36.25

  • Nov 05 $34.50

  • Oct 05 $33.00

  • Sep 05 $31.00

  • Aug 05 $30.20

  • July 05 $29.50

  • Jun 05 $29.00

  • May 05 $29.00

  • Apr 05 $24.00

  • Mar 05 $22.50

  • Feb 05 $21.80

  • Jan. 05 $21.00

  • Dec. 04 $20.70

  • Nov. 04 $20.50

  • Oct. 04 $19.90

  • Aug. 04 $19.25

  • Jan 04 $15.50

  • Jan 03 $10.30

  • Jan 02 $9.60

U308 $64.50/lb (Effective: August 4th, 2008 market price is unchanged +$0.00 from last weeks survey): International supply shortages of uranium, along with escalating nuclear programs in nations such as India and China. According to the World Nuclear Association there are official plans in the works worldwide for 349 new reactors (either under construction, planned, or proposed).

 

Supply Side: A persistent deficit between world U3O8 demand and worlds U3O8 mining supply has existed for close to two decades and inventories are steadily being depleted.

 

Demand Side: Governments worldwide struggle for solutions to control green house gas emissions and produce affordable energy; nuclear power is the cleanest, least expensive and most secure source of electricity. There are currently 439 operational nuclear reactors world wide and that number is expected to grow significantly within the next decade. In the U.S.A., which has 104 operational nuclear power plants providing approximately 20% of the country’s energy, reactors that have met the end of their normal 40-year operating license are being granted extensions and the U.S. Department of Energy is actively providing incentives encouraging power corporations to apply for licenses to build new reactors in an attempt to stave off an imminent energy shortage.

 

439 Active Reactors (as of Q1 08)

Table of World Nuclear Reactors 2006-2008 & Uranium Requirements <= Source; World Nuclear Assoc.

 

NUCLEAR ELECTRICITY GENERATION 2006

REACTORS OPERABLE January 2008

REACTORS UNDER CONSTRUCTION January 2008

REACTORS PLANNED January 2008

REACTORS PROPOSED January 2008

URANIUM REQUIRED 2008

billion kWh 

% e 

No. 

MWe 

No. 

MWe 

No.

MWe 

No. 

MWe 

tonnes U

Argentina

7.2

6.9

2

935

1

692

1

740

1

740

123

Armenia

2.4

42

1

376

0

0

0

0

1

1000

51

Bangladesh

0

0

0

0

0

0

0

0

2

2000

0

Belarus

0

0

0

0

0

0

2

2000

0

0

0

Belgium

44.3

54

7

5728

0

0

0

0

0

0

1011

Brazil

13

3.3

2

1901

0

0

1

1245

4

4000

303

Bulgaria 

18.1

44

2

1906

0

0

2

1900

0

0

261

Canada* 

92.4

16

18

12652

2

1500

4

4000

2

2200

1665

China 

51.8

1.9

11

8587

5

4540

30

32000

86

68000

1396

Czech Republic 

24.5

31

6

3472

0

0

0

0

2

1900

619

Egypt 

0

0

0

0

0

0

0

0

1

1000

0

Finland 

22

28

4

2696

1

1600

0

0

1

1000

1051

France 

428.7

78

59

63473

1

1630

0

0

1

1600

10527

Germany 

158.7

32

17

20339

0

0

0

0

0

0

3332

Hungary 

12.5

38

4

1826

0

0

0

0

2

2000

271

India 

15.6

2.6

17

3779

6

2976

10

8560

9

4800

978

Indonesia 

0

0

0

0

0

0

2

2000

0

0

0