Washington (Platts)--2Jan2008

The spot price of uranium dropped $1 to $89/pound U3O8 at the end of
December, according to the price reporting company TradeTech.

TradeTech late Monday said that at least three sellers were trying at
year's end to place about 800,000 pounds U3O8, but that demand had shrunk to
only 550,000 pounds U3O8 equivalent. TradeTech said, however, that it expects
demand will increase this month when buyers and sellers return from holiday
vacations.

Ux Consulting kept its spot price at $90/pound in the abbreviated market
report it published Monday. Both price reporting companies agreed, however,
that the long-term price at the end of 2007 was $95/pound. At the end of 2006,
TradeTech's long-term price was $69, while Ux Consulting's was $75.

In other news, the US Department of Commerce, at the request of Cameco's
US uranium subsidiaries, granted a one-week extension to January 10 for
parties to file comments on a draft amendment to the Russian uranium
anti-dumping suspension agreement.

--Mike Knapick, newsdesk@platts.com