Uranium Week: Taking Advantage

Largely absent from the spot market in 2022, utilities last week decided volatility had led the uranium spot price down far enough.

-Spot uranium price falls again on general market volatility
-Utilities pop their heads up
-Activity in term markets remains buoyant

Having all but abandoned a uranium spot market beholden to wider financial market volatility, utilities took advantage of yet another big swoon on markets last week, specifically on Wall Street, which had the spot uranium price tumbling once more.One might be drawing a long bow to connect earnings results from a US grocery chain and a discount retail chain with the demand/supply fundamentals of the nuclear energy industry, but having been sucked into the black hole of financial speculation, the spot uranium market is now but another financial plaything.Industry consultant TradeTech’s weekly spot price indicator fell another -US$4.50 to US$45.50/lb last week in transactions totalling 600,000lbs U3O8 […]

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