Uranium Week: Wild Month

The spot uranium market traded in a wide range in March due to off-again, on-again speculation regarding a potential US ban on Russian uranium exports.

-Uranium not originally included in US sanctions
-Two bills now in Congress to do just that
-Spot and term prices rise, as does the estimated cost of production

It was a tumultuous month of March in uranium markets. When sanctions were first imposed on Russian exports it was assumed uranium would be included, sending the spot price surging up to US$60.00/lb. When uranium wasn’t included, the price fell back to US$48.50/lb.But bills proposing the banning of Russian uranium exports to the US have since been put forward in both the Senate and the House, sending the spot price back up again.U3O8 closed the month at US$58.20/lb on industry consultant TradeTech’s spot price indicator, which was last Thursday, up from US$49.00/lb at end-February.On Friday, TradeTech’s […]

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