Uranium Week: Follow The Leader

As global financial markets bounced from their sell-offs last week, so too did spot uranium.

-Spot uranium price bounces
-SPUT ready to re-enter market
-European energy sector unions push for nuclear power

Interest from speculative investment trusts in uranium as a financial instrument has led to the alignment of spot uranium prices with general financial market volatility in 2022. The Sprott Physical Uranium Trust in particular was most influential in driving the uranium spot price up to a post-Fukushima high of US$64/lb earlier this year.But turmoil in financial markets has since flowed over to spot uranium, causing the SPUT to take a hiatus from the uranium market thus allowing industry consultant TradeTech’s weekly spot price indicator to fall as far as US$45.50 two weeks ago, opening up a wide gap to TradeTech’s term contract price indicator of US$61.00/lb, which is supported by actual end-user demand.Last week financial markets saw […]

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