Uranium Week: Price Lower For (A Little) Longer?

Weekly Reports | 10:00 AM

Cameco and Kazatomprom create short term U308 spot price volatility, continued price weakness for H2 and Australian producers wrestle with cost rises.

-Trading volumes up at month’s end
-More uranium price weakness for H2
-Mine restarts impacted by inflation Supply concerns prompt spot price volatility The U308 spot price market ended the month of July with a welcome flurry of activity and price strength as 800,000lbs of transactions were completed, compared to only eight transactions in the preceding July 31 from June 30 period.Industry consultant TradeTech points to the second quarter earnings call for Cameco as the catalyst. Concerns over supply problems from Kazatomprom elicited the momentum of sales at month’s end and a spot price move to US$86.50lb, before buyers retreated.Concerns were at least temporarily ameliorated at the Kazatomprom August 1 trading update, which didn’t disappoint the market. By August 2, the […]

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