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Gold/Mining/Energy : WWS.T World Wide Minerals
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To: tango who wrote (667)2/4/1999 3:52:00 PM
From: traacs  Read Replies (1) of 784
 
USECC FAX

MARKET
The market took a breather this week as prices were unchanged. However, in the month of January
we saw a 20% increase in prices as total spot volume exceeded 6 million lbs. U 3 O 8 equivalent. This
one month total is more than half of last year's spot volume. Utilities are currently evaluating bids
for 650,000 pounds but according to Ux, “Activity is expected to pick up again in February, as spot
offers are due tomorrow to a non- U.S. utility next week for as much as 2.1 million pounds of CIS
origin.” In the long-term uranium market Trade Tech explains, “Prices in the long-term segment of
the uranium market are strengthening, and the long-term U 3 O 8 price indicator rose to $11.75 per
pound U 3 O 8 an increase of $0.65 from last month.” This indication is for deliveries more than one
year out.
INDUSTRY
Last week, the Nuclear Energy Institute (NEI) sponsored the Nuclear Fuel Supply Forum in Wash-ington
D.C. John Herczeg from the Department of Energy (DOE) reflected that the DOE invento-ries
are currently 23.8 million pounds U 3 O 8 equivalent. Per Ux, “He stressed that current plans
anticipate no sales of inventory, and specify that DOE will not take any action that would destabi-lize
the uranium market.”
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