Energy

Platts reported the spot market price for uranium zoomed upwards this past week.

Platts reported the spot market price for uranium zoomed upwards this past week.

As quoted in the market news:

An aggressive buyer kept adding to its portfolio even as offer prices moved well passed $55/lb U3O8, a price that many analysts had been describing as a ceiling price in the current market conditions.

The buyer, identified by a number of market sources as Japanese trading company Itochu, is said to have finally stopped buying — at least for the moment — after concluding a deal for delivery of uranium in April at a price of $57/lb U3O8. Over the week, several analysts said, Itochu may have bought over 1 million lb U3O8.

Click here to read the full Platts report.

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