Uranium Week: Fading Rebound

Weekly Reports | May 07 2019

The uranium spot price ended April above the end-March price, but momentum faded as the month wore on.

-April rally spot uranium fades
-US production plunges
-France to extend nuclear reduction timeframe

By Greg Peel

20 transactions were concluded in the uranium spot market in April, industry consultant TradeTech reports, totalling 4.6mlbs U3O8 equivalent. Having been on the slide in recent months, the uranium spot price finally saw some buying emerge in April.

However, the rebound proved short-lived. TradeTech’s spot price indicator traded as high as US$25.85/lb during the month but by month’s end had fallen back to US$25.15/lb, as perennial uncertainty with regard section 232 continued to deter buyers.

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