Uranium Week: Fifteen-Year High

Another jump in the spot uranium price last week took it to its highest level since January 2008.

-Sellers back off
-SPUT back in buying
-Term uranium prices edging up
-Concerns over enriched supply
The uranium spot price rose steadily last week as concerns around near-term availability of supply continued to circulate in the market, industry consultant TradeTech reports. Sellers increased their offer prices with each new expression of buying interest.This resulted in a significant gap between bids and offers, which slowed the ability of parties to reach agreement on pricing and conclude deals.TradeTech’s weekly spot price indicator has risen US$3.75 to US$77.25/lb — the highest level since January 2008.The indicator has increased 58% in 2023 and 54% year on year. The average weekly spot price in 2023 is US$57.66/lb U3O8, 16% above the 2022 average. Speculation One of the drivers for the increase in spot uranium prices over […]

Click here to view original web page at www.fnarena.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.