Uranium U308 futures will begin at 6:00 p.m., Sunday, May 6, 2007 for the trade date of May 7
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The most common use for uranium is fuel in nuclear power plants. The average price of delivered uranium has risen from $20 per pound in 2005, to over $100 per pound in 2007. There are currently about 104 nuclear power plants in the United States that produce over 20 percent of U.S. electricity needs.
The uranium futures market will benefit from the added price transparency that a futures market can provide, especially of forward prices as a price curve is established. A futures market can also help as market participants, both investors and corporations, make budget and investment decisions.
Uranium Trading Symbol - UX
- Minimum Price Fluctuation - $0.05
- Trading Unit - 250 pounds of U308
- The futures contract will be cash-settled, thus eliminating the need for a delivery point for the radioactive material.
- Price Quotation - in U.S. dollars and cents per pound
- Trading Hours CME and NYMEX electronic trading systems - 6:00 PM Sundays through 5:15 PM Fridays (Eastern Time Zone)
NOTE: a 45-minute break each day between 5:15 PM and 6:00 PM.
- Trading Months - 36 consecutive months
- Settlement - will be based on the spot month-end U3O8 price published by Ux Consulting Company, LLC.
The contract’s final settlement price is based on the UxC index, which for the past 20 years, has provided U3O8, or “yellowcake” pricing.
The spot U3O8 Uranium price jumped to US $113 pound during April 2007.
The accuracy, completeness and timeliness of the information and materials contained on this Web site cannot be guaranteed. United Futures Trading Company, Inc., does not warrant the accuracy, adequacy or completeness of this information and materials and expressly disclaims liability for errors or omissions.
*The risk of loss exists in futures trading. Past performance is not indicative of future results.