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Uranium Spot Surges Again, After Consolidating for Several Weeks

The price of uranium continues to move up, after a recent period of consolidation and a cool-off in global energy commodities trade.

The price of uranium in the open market is trading at nearly 15-year highs, with many sector analysts expecting prices to keep moving up as a historic demand/supply imbalance becomes more apparent. 

The price has surged since the middle of 2023, as more investors realise just how much demand is coming & how little easily accessible supply there is.

Major powers are scrambling to secure deals to secure uranium pounds, with the Presidents of China, Russia and France visiting Central Asia in recent weeks (Xi was there in May).

The spot price of uranium finished up over $1 on Friday to around $73.50, with an asking price from sellers of up to $75.50/lb.

It could be set to move higher in a big way imminently, as some insiders suggest.

It appears more fuel buyers have entred the spot market late this week.

There is also “a dramatic rise” in RFP’s out in market for uranium supply deals from European, US and Asian utilities. 

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