With uranium demand increasing, supply falling short, and new sanction threats against Russian supply being called for, 2023 should see another strong year for uranium pricing.
-Spot uranium market back in action
-Rosatom sparking renewed calls for sanctions
-Supply not keeping up with demandAfter a slow start to the New Year, the spot uranium market reversed course last week with several transactions closing and investors returning to the uranium sector, industry consultant TradeTech reports.TradeTech’s weekly spot price indicator rose by US$1.70 to US$50.50/lb. The indicator is up 4% in the last week, 3% since the beginning of the year, and 17% from one year ago. Ongoing Sanction Threat The nuclear fuel market is bifurcating, suggested Dustin Garrow, an expert with over 40 years of experience in the nuclear fuel cycle business including uranium production, marketing, and sales, at a webinar hosted by Canaccord Genuity last week.Garrow cited 2022 […]
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