Weekly Reports |Jun 06 2017
The uranium spot market is seeing opportunistic buying under US$20/lb but a lack of interest above.
By Greg Peel
The fall in the uranium spot price to under US$20/lb drew opportunistic buyers out of the woodwork last week. A jump in volume followed, with five transactions concluded in the last throes of May and another five recorded in the first days of June, industry consultant TradeTech reports.
But while end of month buying resulted in the spot pricing rising to mid-week, as soon as the US$20lb line was crossed that interest faded once more. Sellers were forced to drop their offer prices to conclude transactions. All up, the ten transactions represented 1.4mlbs of U3O8 equivalent, with the bulk of the buying interest actually in the form of UF6.
TradeTech's spot price indicator rose then fell again, ending the week with a net US25c gain to US$19.75/lb.