Uranium Week: Traction Lost

Weekly Reports | Aug 22 2017

Any sign of a rally was quashed last week as spot uranium again fell under US$20/lb.

By Greg Peel

Just when it looked like the spot uranium price may finally be able to move away from the US$20/lb mark, an active week saw buyers once again back off as sellers tried to pounce. With 900,000lbs U3O8 equivalent changing hands in nine transactions, it was an unusually busy week for the northern summer.

There remains the issue of disparity of delivery location, timing and terms, which continues to ensure a wide spread of transaction pricing. Either way, utilities interested in buying backed off their bids over the course of the week as plenty of sellers lined up among traders and speculators.

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