The uranium market begins the week of 17 August with its defining characteristic: spot prices tightly contained around $86–87/lb for the better part of six months, while long-term contract prices — last reported at $94/lb by TradeTech. This places the spot within $7–8 of where utilities are paying for term uranium, which is not a bad place for the price to be considering the producers’ unwillingness to sell and the buyers’ lack of alternatives. As a result, there is no immediate threat to a spot premium over term, but the gap between the two benchmarks remains a reflection of the disconnect between the supply and demand sides of the market.
The last major corporate development before the publication of this report was 14 August, when
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