Uranium Week: Sprott Fired Up

The Sprott Physical Uranium Trust has again raised new funds and is again active in the uranium spot market.

-Speculators pile in
-SPUT raises yet more funds
-Uranium term market interest also increasing

The uranium market saw activity heat up last week in both spot and term trading. For the spot market, it was once again all about speculation.The week saw a total of six transactions concluded totalling 700,000lbs U3O8. The buyers were all either traders or financial entities, industry consultant TradeTech reports, and all transactions were concluded at US$50.50/lb.TradeTech’s weekly spot price indicator has thus fallen -US50c to US$50.50/lb, reversing the prior week’s gain.Having raised additional funds, the Sprott Physical Uranium Trust was again active, and total material held by the fund now totals 60.9mlbs. Sanctions Although the spot uranium price showed little price volatility this week, market participants remain alert, TradeTech notes, as the US House of […]

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