Uranium Week: Cameco Diversifies

Spot uranium prices crept up again last week as the SPUT re-entered the market, but attention was on Cameco’s bold acquisition move.

-Spot uranium price rebounds
-Cameco moves into nuclear services
-Sweden to build new reactors

The spot uranium price began to creep back up early last week. On Thursday Wall Street perversely took off on the US September CPI result, and aside from the impact sentiment has on spot uranium, the Sprott Physical Uranium Trust re-entered the market to buy 100,000lbs U3O8.The SPUT has been largely absent during recent spot market volatility, despite having raised further funds.Thirteen transactions were ultimately concluded through the week totalling more than 2mlbs U3O8 equivalent. By week’s end buyers were sitting at US$50.25/lb, but sellers weren’t interested. Industry consultant TradeTech’s weekly spot price indicator is up US$2.50 at US$50.25/lb.There were no new transactions in term markets. TradeTech’s term price indicators remain at US$50.50/lb […]

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