2019 Enrichment Market Review

摘要

After bottoming out in August 2018, enrichment priceshave exhibited continued strengthening over the past 1.5years, although upward price movements moderated considerablyin the latter half of 2019. Both spot and term activity remainedat moderate levels during 2019, with spot volumeslipping slightly and term volume increasing somewhat.However, as was the case for uranium and conversion, a portionof 2019 term enrichment activity was related to new reactorbuilds. Apart from the volume dedicated to first core purchases,open market activity remained at lower levels, andsellers continued to compete aggressively on each new roundof demand. As such, while enrichment prices increased duringthe year, upward price momentum slowed somewhat duringthe second half of the year. Below is a brief review of2019’s enrichment market activity.