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Spot Uranium Prices Stuck Below $20 Per Pound

TradeTech’s spot uranium prices hovered below $20 per lb again last week, with buyers interested in purchases until sellers tried to push for higher prices.

TradeTech noted that last week spot market saw robust volume, but as soon as sellers pushed their offers to $20 per lb or above buying interest evaporated. Interest returned again after sellers lowered their price. This was the second-straight week that asks of $20 per lb were met with resistance.

While the spot uranium market saw increased interest, term market deals dried up with no transactions reported. Therefore; TradeTech’s term indicators were unchanged at S$24.25/lb (mid) and US$34.00/lb (long). Recently, the term market has been more optimistic than the spot market.

In company news, uranium miner Paladin could be close to insolvency. The company has 30 days to repay $277 million in debt after it failed to provide sufficient security to offtake partner Électricité de France (EDF) under a long-term supply contract.

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