Uranium Week: Buyers’ Strike

The spot uranium price fell sharply last week as sellers became more agitated.

-Uranium spot price falls -US$7/lb
-Kazatomprom warns of lack of inventory
-Still no news on Russian uranium sanctions

Industry consultant TradeTech’s weekly uranium spot price indicator last week fell -US$7.00 to US$86.00/lb and is now down -19% from its US$107/lb peak earlier this year.The price remains at a 16-year high and is up 72% year on year, and 385% above the decade-low seen in 2016.The recent price fall is attributed to two main factors, TradeTech notes, and they are both related to the psychological impact of triple digits.When the spot price crossed the US$100/lb mark, utilities, who are not major spot market participants at the best of times, declined to buy at such prices. Speculative entities, now holding vast amounts of physical material, saw triple digits as a good place to take profits, having spent years […]

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