While volatility grips global financial markets, utilities continue to ignore the uranium spot market and concentrate on securing term supply contracts.
-Spot market hit by general volatility
-Term market actions remains buoyant
-Signs of increasing short and long term demand
Global financial markets remained volatile last week on fears of central bank inflation-busting sending economies into recession – more particularly Europe, which is suffering most from Ukraine fallout, but also the US, while Chinese lockdowns weigh on the world’s second largest economy.Given uranium has become a plaything of financial speculators, any widespread financial market fear is finding its way into the spot uranium market. Industry consultant TradeTech’s weekly spot price indicator fell -US$4.75 last week to US$50.00/lb.Only five transactions were completed in the spot market last week, totalling 500,000lbs U3O8 equivalent.While TradeTech’s spot price indicator has declined over -22% in the last month, it remains up 9% so far […]
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