Uranium Price Surpasses $50 for First Time Since 2012

DENVER, Sept. 16, 2021 /PRNewswire-PRWeb/ -- The spot market price for uranium rose to US$50.50 per pound uranium oxide (U3O8) today—-the first time since July 2012 that the uranium market has seen a spot price surpass the $50 price level.

Industry consultant TradeTech's Daily Uranium (U3O8) Spot Price Indicator has climbed just over $10, or 25 percent, in the past week, and $20 or 66 percent in the last month, as spot market activity has risen steeply amid buying activity from financial groups, traders, and nuclear power utilities, with financial entities accounting for the majority of the purchases reported in recent weeks.

"The launch of the Sprott Physical Uranium Trust in mid August has been a significant contributing factor in the spot price rise," said TradeTech President Treva E. Klingbiel. "Not only has the Trust accounted for a notable portion of the material purchased in the spot market since mid August, but the launch of the fund has attracted a number of new parties to the uranium market, which when combined with steady purchases from uranium producers and existing funds, has added further momentum to the price increase," she added.

Presently, uranium supplies have been sufficient to meet the increase in spot market demand, although sellers are remaining cautious and retaining quantities in anticipation of a further price rise and demand from utilities in the coming months, according to TradeTech. The Sprott Physical Uranium Trust, which expanded its At-the-Market program to $1.3 billion last week, is anticipated to remain an active participant in the uranium spot market.

About TradeTech
TradeTech launched its Daily Uranium Spot Price Indicator in March 2011, which is provided to subscribers worldwide. The company's "Nuclear Market Review" (NMR) is published each Friday evening, and reports the Weekly Uranium Spot Price Indicator, uranium trading activity, industry news, and market data. The monthly edition of the NMR, released on the last day of each month, includes TradeTech Market Values (Exchange Value, UF6 Value, Loan Rate, Conversion Value, SWU Value, and Transaction Value) and Mid- and Long-Term Uranium Price Indicators, as well as analysis related to price determinations, supply/demand information, and industry news. TradeTech also publishes "The Nuclear Review," a monthly trade publication dedicated to the international uranium and nuclear energy industry, and a quarterly "Uranium Market Study."

TradeTech—and its predecessor companies—has supported the uranium and nuclear fuel cycle industry for more than 50 years, and is widely recognized for its expertise in trading activities and its comprehensive knowledge of the technical, economic, and political factors affecting this industry. TradeTech provides expert market consulting, has relationships with international nuclear fuel buyers and sellers, and maintains an extensive information database on these industries.

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Media Contact

Treva Klingbiel, TradeTech, +1 3035733530, [email protected]

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SOURCE TradeTech