The Market

摘要

Although the number of transactions for the month falls on the lower side, overall volume for February now stands at about 3.8 million pounds U_3O_8 equivalent under 12 transactions. Based on recent activity as well as current bids and offers, the Ux U_3O_8 Price slipped to $28.65 per pound on Monday, down $0.20 for the week. The Ux 3-Year and 5-Year U_3O_8 Forward Prices were unchanged for the week at $33.00 and $35.25 per pound, respectively. While many in the market have shared views that spot activity this year has been more limited, quiet and sideline transactions have increased reported volume. This activity has resulted in moderate to higher levels since 2019 started with January and February volumes already well surpassing those booked in the previous three years. Utility spot purchase activity has comprised a good portion of this increase accounting for 45% of 2019 volume, compared to this group’s 25% annual share posted over the previous two years. There has been a combination of both formal requests and more quiet utility discussions, with most of the resulting deals well above the standard spot transaction size accounting for utility spot volume that is already approaching five million pounds for the year. With a U.S. utility request last week and a non-U.S. utility preparing its formal request, this increased utility buying is likely to continue over the near term. A U.S. utility entered the spot market last week with a quick turnaround request seeking a minimum of 100,000 pounds U_3O_8 equivalent as either U_3O_8 or UF6 with delivery by September 2019 and has reportedly made it selection(s). A non-U.S. utility has a preliminary request out for between 310,000 to 625,000 pounds U_3O_8 with delivery spread over the November 2019 to June 2020 time period.