Uranium price to skyrocket in the next 2 weeks?Next week, October 1st and beyond is when all those new LT (long-term) uranium supply contracts get negotiated for the utilities with the producers.
There are only a few deals that have been done as the majority of utilities have NOT signed new supply deals yet, in fact you would have to go back 11 years to find a similar situation in terms of so few LT contracts already signed before October. However, they can't put this off forever as they have to lock in a guaranteed supply of U308 before there is a genuine shortage.
The Utilities have been stalling and stalling, perhaps hoping for the price of uranium to come down but they are running out of time now.
If there genuinely is a shortage of uranium, then we should start seeing a sharp rise in price in the next week or two..
This thursday, a new 25% tariff on imported U308 from China goes into effect in the USA which is the largest user of uranium in the world, so even if China is willing to sell lots of uranium to americans, as of this thursday it will be 25% more expensive!!
The fact that the uranium miners are on fire right now might be foretelling a massive price hike of U308 real soon.
The next few days this week and next week may have a big price hike...
This is an exciting time for uranium investors.. Even if the price of U308 does not spike in the next 2 weeks, we should see a steady rise of price over the next 6-12 months.