Published Monday, October 29, 2007 8:05 AM by Jonathan Ratner

Uranium rose for a third straight week, with spot prices climbing US$4 to US$84 per pound, TradeTech said in the Oct. 26 edition of Nuclear Market Review.

The firm said two deals were reported during the week. The first, for 250,000 pounds of U3O8 equivalent, was reported at or very near the new spot spice. The other transaction was for 100,000 pounds and was priced slightly above the current price.

“... Renewed buying interest on the part of speculators and hedge funds is contributing to the upward price pressure,” TradeTech said in the report. “However, this demand remains predominantly discretionary. Buyers are showing some willingness to accept higher prices, but a gap, albeit more narrow than in past weeks, still remains betweem most willing buyers and willing sellers.”