As November began, with many in the world following the U.S. presidential election, spot U3O8 activity once again fell back with only a limited number of transactions reported since last Monday. Over the second half of this year, we have seen activity fall significantly early in each month. In addition, over the past couple of months, the lower activity level to start each month has also followed lower month-end volumes. This trend appears to be holding yet again. Confirmed spot activity over the past week resulted in only four transactions totaling close to 350,000 pounds U3O8. As we witnessed in October, all buying groups were active, and even with the limited number of transactions reported thus far for November, buying by traders, producers, and utilities can already be reported. Buying interest from each of these groups is also expected to continue during the month, but it is still too soon to tell whether November’s overall spot volume will be above or below historical monthly averages.
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