The spot uranium price continues to climb as tight near-term supplies lead sellers to increase offer prices; as a result, TradeTech's Weekly Uranium Spot Price Indicator reached $65.50 on September 15--the highest level in more than 12 years.

ENGLEWOOD, Colo., Sept. 18, 2023 /PRNewswire-PRWeb/ -- The spot uranium price continues to climb as tight near-term supplies lead sellers to increase offer prices; as a result, TradeTech's Weekly Uranium Spot Price Indicator reached $65.50 on September 15--the highest level in more than 12 years.

"The expectation for higher demand from the global nuclear power industry, combined with signs that the uranium production sector could contract further due to the recent geopolitical events, as well as certain missed targets by existing and emerging producers, have led spot uranium sellers to resist reducing their offer prices, with buyers exhibiting a willingness to pay higher prices to secure material," said TradeTech President Treva Klingbiel. "The potential disruption to future supplies due to the recent geopolitical unrest in Niger or potential sanctions on Russian nuclear fuel imports is creating concern among buyers," Klingbiel added.

TradeTech's Weekly Uranium Spot Price Indicator is at its highest level since March 11, 2011, the date of the Fukushima accident in Japan. In the 12 and a half years since then, the spot price declined to a low of $17.75 per pound U3O8 in December 2016. The most recent upward trend in the weekly spot price began in mid-July this year, with the price indicator rising 17 percent over the last two months. The spot price has increased 34 percent since the beginning of the year and 38 percent since September 2022. The average weekly spot price in 2023 is $54.09 per pound U3O8—8.9 percent above the 2022 average, according to TradeTech data.

TradeTech's weekly "Nuclear Market Review" features ongoing uranium market analysis and the company's Weekly Uranium Spot Price Indicator.

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 and Production Cost Indicator, as well as analysis related to price determinations, supply/demand information, and industry and financial news. TradeTech also publishes "The Nuclear Review," a monthly E-magazine dedicated to the international uranium and nuclear energy industry, and a quarterly "Uranium Market Study," which includes near- and long-term forecasts. Information on TradeTech products and services, as well as educational resources about the uranium and nuclear fuel industries is available at: https://www.uranium.info.

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.

Media Contact

Treva Klingbiel, TradeTech, 1 303-573-3530, info@tradetech.com, www.uranium.info

Gail Fox, TradeTech, 1 303-573-3530, info@tradetech.com, www.uranium.info

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SOURCE TradeTech