Washington (Platts)--17Jul2007

The spot price of uranium continued to weaken, with price publishing
companies Ux Consulting and TradeTech reporting declines of $3 and $4/pound
respectively.

     TradeTech dropped its spot price $4 a pound U3O8 to $129/pound, while Ux
dropped its spot price $3/pound U308 to $130/pound. The Platts NuclearFuel
U308 spot range for this week is $123-$133/pound U3O8, down from $125-$135 the
prior week.

     TradeTech said there is limited near-term demand and several more sellers
are making "discreet inquiries" to potential buyers in an effort to sell
material. The auction last week of 150,000 kilograms uranium as UF6 by USEC 
apparently drew only "limited interest" from potential sellers, TradeTech
reported late Friday. 

     Ux Monday said the stock market adage of "Sell in May and go away" seems
more applicable to the uranium market lately. Buyers have seemed to disappear
since uranium prices peaked in late May/early June, as price has fallen for
three consecutive weeks, it said. But some sellers have gone away as well, it
said, possibly electing to hold their material until the price perhaps
strengthens this year or next. 

     Other sellers have lowered prices to induce sales, as was evident last
week as offers fell to the $130 level, it said.

     But one analyst said the current weakness in the spot price should not be
interpreted by buyers as indicating a long-term trend. In the longer-term
market, there is still upward pressure because of uncertainty over the timing
of new production, the analyst added.

     The current long-term price, according to both TradeTech and Ux
Consulting, is $95/pound U3O8.

		--Mike Knapik, newsdesk@platts.com