Weak Buying Still Prevalent in Uranium Market

FN Arena reported that suppliers are becoming increasingly bearish on the price outlook for uranium. According to Trade Tech, a total of five transactions were reported last week, which saw spot prices end lower at US$34 per pound.

According to the news:

There has been a lot of talk of potential uranium supply sanctions being imposed against Russia in the wake of the Crimean annexation, but last weekend’s diplomatic discussions between Presidents Putin and Obama may go some way to allaying those concerns. The British government is nevertheless said to be reviewing an agreement signed last year with Russian state-owned Rosatom which would have seen the Russians building nuclear reactors in the UK.

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