Uranium Prices Continue to Climb

Source:

"Buyers willing to pay higher prices to secure material."

Spot uranium continued to demonstrate upward price movement, increasing $0.75 to $46 per pound reported by Trade Tech and $46.50 from UxC trade consultants. A total of over 1 million pounds uranium equivalent changed hands in seven transactions. The bulk of material was purchased by intermediaries; though utilities, producers and intermediaries all participated in buying contracts.

Buyers exhibited an increased willingness to pay higher prices to secure material as the week progressed and, as a result, the gap between willing buyers and willing sellers narrowed significantly. The most recent transaction was concluded at, or very near, the most recent uranium spot price. New demand emerged, represented by two non-U.S. utilities entering the market. While current supply remains sufficient to meet demand, the recent increase in the spot uranium price led sellers to marginally raise their offer prices with each new sales opportunity.

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