In 2019’s fourth quarter spot uranium market update, wenoted that if the spot price could hold near $26 or trend higherto finish the year that this would be a positive sign for continuedupward price movement in 2020. However, low demandvolume and notable year-end selling interest resulted in thespot price slipping by $1.00 to end 2019 at $25.00, beforecontinuing to retreat by another $0.65 to end January at$24.35. Through the first 24 days of February, the spot pricehas been as high as $24.80, but stands at $24.70 today. Overall,spot volume in the December 2019 through February 2020period has totaled 14.2 million pounds U_3O_8e, which is higherthan projected demand of 10.5 million pounds U_3O_8e for theperiod at this time last November. Utilities accounted for～50%, brokers, traders, and other accounted for 29%, and producersaccounted for 21% of the spot volume over this period.
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