text: (h) Uranium 166. The market for uranium remains soft. The rate of decline in the United States spot purchase price eased after the dramatic falls recorded in 1980, when the price droppec from $40 per pound of uranium metal in January to $27 in December. The price fell further during 1981 to a December level of $23.5. 167. World uranium production during the year was estimated at 42,870 tonnes of uranium, about 1,000 tonnes less than in 1980 but about 50 per cent in excess of world requirements; this caused inventories to grow to a level of at least, 160,000 tonnes of uranium. Accorcing to some estimates world inventory levels will remain equivalent to about six years' forward coverage throughout the rest of the decade. 168. Production uranium, about Namibia, which and the Niger 1 , 000 an d 4 , 1 00 in South Africa totalled 6,060 tonnes of the same as in 1980. This estimate eYcludes is believed to have produced 3,970 tonnes. Gabon are thought to have produced similar amounts to tonnes respectively. (1) Phosphate rock 169. Total phosphate rock production in 1981 remained at around the 1980 level. The price of phosphate stood at $49.5 a tonne by December 1981, and major exporters have been obligee to concede $3-$8 on their 1982 f.o.b. prices. The larger concessions came from African suppliers who were adversely aff,cte~ by the decline in ocean freight rates and the narrowing of differentials in 82 E/ECA /CM. 9/5 major contracts. The main grade of Moroccan phosphate stood at $42-$45 f.a.s. Casablanca, while the corresponcing grade of Florida phosphate was $39-$42 f.o.b. Tampa.· 170. After a poor year in 1980, the Moroccan phosphate industry raised its output by 5 per cent in 1981. However, most of the 
analysis: The text appears to be discussing the market trends and production levels of two specific natural resources, uranium and phosphate rock. It provides information on the prices, production levels, and inventory levels of these resources, which suggests a focus on natural resources and economic development.