More aggressive buyers are accelerating the current rise of the spot
uranium price, according to price-reporting companies TradeTech and
Ux Consulting.

TradeTech late Friday said the spot price had jumped to $84 a pound U3O8,
from $80 the previous week. Ux Consulting late Monday put the price at
$85/pound, up $5 over the prior week.

TradeTech said "renewed buying interest on the part of speculators and
hedge funds is contributing to the upward price pressure." Ux Consulting
suggested that the spot price "is not likely to rest" at the $85 level, "as
the more aggressive buyers have already moved their bids to $85/lb in an
attempt to secure supply."

Given the continued upward pressure on the price, there
now is a greater likelihood that the year will end with the price in
triple digits, said one analyst.

The Platts NuclearFuel range for the current week is $80-$86/lb U3O8.

--Mike Knapik, newsdek@platts.com