The third quarter (Q3) of 2018 was one for the record books. The quarter, which just ended yesterday, saw spot activity that was consistent from week to week, with some weeks resulting in more volume posted than the entire volume tallied for some previous months. Q3 was marked with the resurgence of funds investing in spot uranium in a large fashion. Yet, it was the increased activity of traders, utilities, producers, and other groups that really pushed activity to record setting levels. Following several announcements, including Cameco’s decision to indefinitely suspend production at the McArthur River mine and Key Lake, increased buying activity led to a marked surge in the spot price, which reached its highest level in over two years. Below are some highlights of the third quarter spot uranium market.
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