Uranium Week: Speculation Returns

A renewed risk-on mood in financial markets in 2023 has rekindled speculation in the uranium spot market.

-U3O8 spot activity fired up again last week
-SPUT the main buyer
-EU/US looking at sanctions on Russian uranium exports

The desire shown by many countries to reduce carbon emissions and secure energy independence have re-instilled an optimism within the global nuclear industry that has not been witnessed in decades, industry consultant TradeTech notes, and has generated renewed interest from the financial community in the sector.A total of over 1.2mlbs U3O8 changed hands last week in eight transactions, as activity surged in the spot uranium market. TradeTech’s weekly spot price indicator is up US$0.50 at US$51.00/lb.The Sprott Physical Uranium Trust raised approximately US$81.2m and purchased over 977,000lbs U3O8 in January. SPUT currently holds nearly 60mlbs U3O8 in inventory, TradeTech reports, and its trading price has returned to a slight premium to net […]

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