Uranium Week: Uranium Price Breaches US$100

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Multiple factors are combining to drive the uranium spot price higher, and brokers expect demand will continue to outstrip supply.

-The U3O8 spot price breaches US$100/lb for first time since 2007
-Supply and demand imbalances behind the rally, suggests Morgan Stanley
-Tight conditions in the uranium, conversion and enrichment markets Uranium prices continue to surge, with industry consultant TradeTech’s weekly spot price indicator rising by US$12/lb to US$104/lb. This new level is a 107% increase compared to the second week of January in 2023.Despite the recent rally, Canaccord Genuity remains positive on the outlook for uranium prices, believing the market remains in a structural deficit , and expects tight conditions to persist.While demand is durable, supply is as fragile as ever, according to the broker, and any further supply disruptions could lead to panic buying by utilities, […]

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