Uranium Week: Deficit Ahead

Weekly Reports | Mar 28 2023

With the bulk of miner restart production already being contracted, increasing demand should lead to a near term uranium supply deficit.

-Spot uranium price creeps back up
-DoE pushes clean energy investment
-Restart supply not enough to cover demand

By Greg Peel

Following the bank-led turmoil of the prior week that had financial markets in a tailspin, the spot uranium price quietly crept back up last week on four transactions. Traders were on the buy-side and traders or speculators were the sellers, industry consultant TradeTech reports.

TradeTech’s weekly spot price indicator has risen US35c to US$50.25/lb. Spot is up 2.6% in 2023 but down -14% year on year.

Meanwhile, term uranium buyers (utilities) are pursuing additional material through a variety of market mechanisms that include formal Requests for Proposal, off-market transactions, and extensions or adjustments to existing contracts.

TradeTech’s tem price indicators remain at US$51.50/lb (mid) and US$53.00/lb (long).

The full story is for FNArena subscribers only. To read the full story plus enjoy a free two-week trial to our service SIGN UP HERE

If you already had your free trial, why not join as a paying subscriber? CLICK HERE