uranium price will jump by 10% very soonTradeTech published the weekly spot uranium price indicator of $61/pound, for the week ending November 10th in Friday’s edition of “Nuclear Market Review.” It is posted on the Trade Tech website. But, judging from the number of utilities seeking U3O8 equivalent, it is unlikely spot price increases will stall or stabilize at this level. Nor will the price likely increase by tiny increments between now and year end. By next weekend or the following, we could very well be looking at the ten-percent jump investors have been waiting for.
“It’s a bit of a poker game at the moment,” Sprott Asset Management Market Strategist Kevin Bambrough told StockInterview. “Utilities are scrounging around looking for contracts in size rather than entering a thin spot market.” Bambrough believes the spot market won’t supply utilities with the pounds they required, unless there is “a substantial rise in price.”