First uranium price fall in 51 months

The price of uranium has dropped by $3 per lb U3O8, leaving the spot price at $135 per lb on 30 June according to both UxC and TradeTech. Prices for the raw material for nuclear fuel had enjoyed rise after rise since May 2003, escalating from $10.90 to $138.00 per lb. Market observers U3O8.biz suggested the cause of the drop was, "Decreased speculation by investment funds and a lack of aggressive buyers, replaced by a strong desire on the part of sellers to move material."