The Market

摘要

Several market participants have been traveling back and forth for industry meetings (last week WNA, this week NEI). One side effect of so many folks traveling is that spot activity has remained minimal since the beginning of the year with only seven spot transactions thus far booked for January. However, with the initial meetings and the decline in spot uranium prices in December, some new buying interest, including by utilities, has emerged on the demand side whether through direct discussions or by way of brokers. In addition to this, a non-U.S. utility that entered the market recently is now evaluating offers received yesterday (Monday) based on its RFP for 150 tU of U_3O_8 (~390,000 pounds U_3O_8) with delivery in 2020. Other utilities are evaluating their near-term needs and trying to determine if the recent downturn in the spot price presents a good time to lock in near-term needs or buy into inventory prior to potential price increases that may come later in the year.