Uranium Week: Russia Scare

The spot uranium price surged again last week as concerns were raised regarding shipments out of Russia.

-Russian uranium shipments halted
-Kazatomprom’s production increase
-More speculative buyers
-Too far, too fast?
The spot uranium market was rattled last week by reports of a Russian uranium shipment delay at the port of St Petersburg. Certain news outlets initially reported state nuclear group Rosatom had announced a halt to shipments of nuclear fuel to the US for reasons related to insurance.Rosatom responded to those reports by retracting its original announcement and stating, "The Rosatom State Corporation fulfills its obligations under the concluded contracts with foreign customers in full”.But questions were asked as to whether Rosatom was buying uranium from Western suppliers, which fed further speculation that Rosatom may be seeking alternate means to fulfill its deliveries. The Russian government has suspended shipments of other fuel exports, including oil and gas in […]

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