Uranium price explosionNov 7, 2014 - The spot uranium price surged upward this week—increasing $5.75 in just five days. In terms of percentage, it is the second-largest increase (week-on-week) in the Weekly U3O8 Spot Price Indicator since 1996. The price jump was spurred by increased buying interest from all sectors, including utilities, traders, and financial entities. One financial entity finalized steps that would allow the company to move forward with acquiring additional uranium, although the company is not obligated to do so. Sellers responded to buying interest by steadily increasing offer prices over the course of the week as each new selling opportunity emerged. Along with the increase in demand, was the added element of delivery timing, with at least one of the buyers entering the market this week seeking delivery of material by as soon as December 1. Overall transaction volume was relatively low compared to the jump in the price, and prices in each successive transaction rose significantly as the week came to a close with sellers pulled away from the market. TradeTech’s Weekly U3O8 Spot Price Indicator is $42.00 per pound U3O8, an increase of $5.75 per pound from last week’s value and up $3.00 from the November 6 Daily U3O8 Spot Price Indicator.