The spot price of uranium has fallen to around $100 per lb since it reached a record $138 per lb in June. Ux Consulting said that the spot price on 20 August had fallen 14% (or by $15 per lb) during the previous week to reach $90 per lb. However, TradeTech's Spot Price Indicator remained unchanged during the week to 17 August at $105 per lb. Prices for the raw material for nuclear fuel had enjoyed rise after rise since May 2003, escalating from $10.90 per lb. Market observers U3O8.biz suggested that the continuing price drop is due to "lots and lots of readily available uranium." According to U3O8.biz, TradeTech said producers, intermediaries, speculators and the US government are all behind the infusion of uranium into the market, driven by the individual sellers' desire or need to generate cash.
TradeTechWNN: First uranium price fall in 51 months