TradeTech’s® Long-Term Uranium Price Indicator climbed to US$57.75 per pound U3O8 in July–the highest level in a decade as the nuclear power industry plans for global growth to support security of energy supply and climate goals.
ENGLEWOOD, Colo., Aug. 1, 2023 /PRNewswire-PRWeb/ — TradeTech’s® Long-Term Uranium Price Indicator climbed to US$57.75 per pound uranium oxide (U3O8) in July–the highest level in a decade as the nuclear power industry plans for global growth to support security of energy supply and climate goals.
Meanwhile, several supply-side developments, including delays to planned uranium production and higher cost estimates, threaten to deepen an existing supply deficit in the uranium market. As a result, TradeTech’s monthly uranium Production Cost Indicator™ (PCI) increased 0.2 percent to $55.30 per pound U3O8 on July 31, and is up 5 percent from a year ago (1). This month’s marginal increase in the PCI indicates potential volatility is on the horizon, according to TradeTech.
“Although the market is poised to enter a quiet season due to summer holidays, uncertainty concerning production output and potential disruption to future uranium supplies, due to the recent geopolitical unrest in Niger or sanctions on Russian nuclear fuel imports, is creating anxiety for buyers. An increasing supply deficit in the market foreshadows periods of increased term buying as end users look to shore up their future deliveries,” said TradeTech President Treva E. Klingbiel.
A comprehensive analysis of uranium supply and demand, as well as spot and long-term uranium price forecasts and recent industry and policy developments, are featured in TradeTech’s quarterly “Uranium Market Study” publication.
(1) The uranium Production Cost Indicator captures TradeTech’s proprietary judgment of the life-of-mine full cost (C3) necessary to incentivize and support new primary uranium production, captures a combination of circumstances affecting the future supply/demand dynamic.
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.
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.
Pull Quote
“Uncertainty concerning production output and potential disruption to future uranium supplies is creating anxiety for buyers and foreshadows periods of increased term buying as end users look to shore up their future deliveries,” said TradeTech President Treva E. Klingbiel.
Media Contact
Treva Klingbiel, TradeTech, 1 3035733530, [email protected], www.uranium.info
Gail Fox, TradeTech, 1 3035733530, [email protected], www.uranium.info
SOURCE TradeTech
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