Interest in the uranium spot market is waning, as interest in uranium term markets heats up.
-Interest fading in spot uranium market
-Term markets remain active
-Global demand continues to grow
A total of 12 transactions involving 1.2mlbs U3O8 equivalent were recorded in the uranium spot market in November, industry consultant TradeTech reports, compared to 4.5mlbs in October. The majority of this activity occurred during the first half of the month, before activity stalled as the US Thanksgiving holiday approached, which is not unusual.TradeTech’s spot price indicator closed out the month at US$49.75/lb, down from US$52.25/lb at end-October.Sellers re-entered the market following the Thanksgiving weekend, but buyers didn’t. By last Friday, after sellers continued to drop prices, one transaction had been reported for 200,000lbs at US$48.00/lb, down -US2.00/lb week on week.This price movement runs counter to activity occurring in the term uranium markets. Multiple US and non-US […]
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