Only one buyer appeared in the spot uranium market last week, and a rather familiar one.
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The policy shock delivered by the Fed in January led the Sprott Physical Uranium Trust to take time out from its planned uranium purchases as financial market volatility played out. As a result, the uranium market in general went quiet.This changed two weeks ago when the SPUT returned in force to acquire another 1mlbs U3O8 in the spot market. Traders and other speculators jumped on the bandwagon, leading to 12 transactions totalling 1.5mlbs for the week.Last week the spot market went relatively quiet again, likely reflecting the rise in geopolitical angst, but it didn’t stop the SPUT. A total of 600,000lbs U3O8 changed hands, and the SPUT was the only buyer.Industry consultant TradeTech’s weekly spot […]
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