Uranium spot prices returned to their downward trend last week, dipping another US$6 to US$123 per pound, after holding steady the previous week, TradeTech said in the July 27 issue of Nuclear Market Review.
Earlier in the week, some buyers appeared willing to pay more than US$123 per pound, but this quickly changed, primarily due to the psychological impact of lower prices, the group said.
"Although a number of sellers are resisting the downward price pressure, several have shown a willingness to lower their offer prices from last week's price of US$129," TradeTech said. "In addition, the introduction of another lot of supply exerted further downward pressure on the price."
Earlier in the week, some buyers appeared willing to pay more than US$123 per pound, but this quickly changed, primarily due to the psychological impact of lower prices, the group said.
"Although a number of sellers are resisting the downward price pressure, several have shown a willingness to lower their offer prices from last week's price of US$129," TradeTech said. "In addition, the introduction of another lot of supply exerted further downward pressure on the price."
