Uranium Week: Mid-Term Price Pullback

Uranium Week: Mid-Term Price Pullback

The uranium spot price continued to bounce last week as the mid-term price fell back and cost pressures are rising.

-U3O8 spot market anticipating SPUT purchases
-Mid-term price adjustment reflects other buyer demands
-Cost of uranium production still steadily rising

The bounce in the spot uranium price following general financial market lows continued last week, with industry consultant TradeTech’s weekly spot price indicator rising another US$2.60 to US$47.75/lb.May ended mid-week, at which point the indicator was at US$48.50/lb, down -US$4.50 from end-April.The two-week bounce began the week before when global equity and other markets staged a solid comeback rally off the most recent lows, and also on news the Sprott Physical Uranium Trust had successfully issued new capital, and was thus cash-positive.Given SPUT’s sole purpose in life is to purchase uranium as a financial investment, the market is assuming the trust will soon be in buying more material. As […]

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