Uranium prices held steady near 14-month lows
reported by Mehr Reporter Uranium futures stabilized below $74 ($73.95 cents) per pound and remained near a 14-month low of $70 in late December. This situation is caused by the prevailing view that there is sufficient supply of mined uranium.
Increasing production by Kazatomprom
Kazatomprom, the world’s largest uranium producer, intends It is increasing its production, although it is facing challenges such as the supply of sulfuric acid and the temporary suspension of the joint project “Inkai”. Meanwhile, other mining companies also have plans to increase global supply. UBS Bank predicts that the supply from Paladin Energy and Boss Energy companies will also increase.
Long-term contracts in favorable conditions
This increase in supply, to service companies It has made it possible to conclude long-term contracts with favorable conditions and this issue has reduced the demand in the uranium futures market.
Russian bans and their limited effects
Earlier, Russia sold enriched uranium to the United States in response to Washington’s decision to ban Russian nuclear fuel imports. However, broad waivers from both sides eased supply threats.
Increasing enrichment costs and price stability
Although uranium enrichment prices for conversion Nuclear fuel prices remain near historic highs due to supply chain disruptions caused by the Russia-Ukraine war, but an abundant supply of “yellowcake” (natural uranium) has stabilized prices at recent lows.
