Uranium Week: Reassessing Uranium Prices

Brokers have queued up to lift their longer-term uranium price forecasts just as the spot price sees its first weekly drop since November.

-Spot uranium price dips
-Longer-term price forecasts seeing widespread upgrades
-Australian-listed uranium stocks in the spotlight

Uranium buyers were dealt a reprieve last week when the spot price actually fell back for the first time since November. While prices heading into January were surging, reaching US$106/lb the week before last on industry consultant TradeTech’s weekly spot price indicator, actual transactions were few.Sellers kept backing off their prices and buyers became reluctant to chase. The impetus for most recent price strength had been the passage of a bill through the US House banning imports of Russian enriched uranium (with caveats), which was expected to then sail through the Senate.It didn’t, having been blocked by a Republican senator from Texas, so last week sellers moved swiftly to lower […]

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