Uranium Week: Soft US Import Waivers

The uranium market has been pleasantly surprised by the rather soft guidance on waivers included in the legal ban to import uranium from Russia into the USA.

-US uranium import waivers more relaxed than expected
-Traders push up prices pre announcement
-Utilities move to consider longer term (post 2028) U3O8 contracts

As also reported in last week’s update, utilities and traders have been occupied with the US Department of Energy’s (DOE) waiver details for the Prohibiting Russian Uranium Imports Act which will go into effect 90 days after President Biden signed it on May 13.The Act allows for temporary waivers under specific circumstances and any waiver must be terminated by the cut-off date, January 1, 2028 with the ban in place until December 31, 2040.Industry consultant TradeTech reports the spot uranium market was noticeably active over Monday 20 May and Tuesday 21 May, with over one million pounds of […]

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