The downward trend of uranium prices in world markets; Increase production next year
reported by reporter Mehr quoted from website trading Economics Futures (Uranium futures) were below $74 a pound in January and remained near their 14-month low of $70 a pound since late December, while that the dominant view is still based on sufficient supply of mined uranium. The downward trend is accompanied by forecasts of increased production by the world’s largest producer, Kazatomprom, and other Western miners. While supply chain problems and geopolitical tensions continue, an adequate supply of uranium continues to help keep prices at low levels.
Kazatomprom, the world’s largest producer, is set to increase uranium production next year, despite problems Recent in the supply of sulfuric acid. Western miners are also set to boost supply, with UBS forecasting higher supply from Paladin Energy and Boss Energy (Paladin Energy and Boss Energy) will come.
This allowed service companies to enter into long-term contracts with favorable terms, which limited demand in the derivatives market.
Earlier, Russia banned the sale of enriched uranium to the United States in response to Washington’s decision to ban imports of Russian nuclear fuel, but broad exemptions for both sides addressed supply threats. limited.
While prices for enrichment to turn uranium into nuclear fuel remain near historic highs due to supply chain disruptions since the start of Russia’s invasion of Ukraine, sufficient supplies of yellowcake It has kept the prices at the lowest levels recently.
The chart below shows the changes in the monthly price of each pound of uranium over the past 35 years.
