Uranium Week: Selling Accelerates

Weekly Reports | Oct 29 2019

The uranium market remains in a state of flux due to policy uncertainty. Sellers became more anxious last week.

-Iran waiver deadline looms
-Sellers jumping over each other
-Paladin moves forward on Langer Heinrich restart

By Greg Peel

Industry consultant TradeTech sums it up succinctly in suggesting the uranium market is currently “frozen by uncertainty”. Last week was the fifth in succession in which the uranium spot price fell, this time notching a less incremental fall than prior weeks on slightly greater volume than has been the case recently during this period of demand stasis.

TradeTech reports six deals concluded in the spot market last week totalling 750,000lbs U3O8 equivalent. Each deal traded at a lower price than the last, resulting in a -US75c drop in the consultant’s weekly spot price indicator to US$24.10/lb. Sellers have clearly become more anxious.

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