TradeTech’s uranium spot price reached $86/lb uranium oxide (U3O8*) on 15 December 15 – its highest level in nearly 16 years, the US-based market consultant TradeTech said.
TradeTech’s Weekly Uranium Spot Price Indicator has increased 76% in 2023 amid growing global support for nuclear power and uranium supply concerns linked to the arrival of investor interests and the potential for restricted supply due to geopolitical tensions.
“The spot uranium price, which has been under upward pressure for most of this year, increased again this week as bipartisan support for banning Russian nuclear fuel imports into the USA after 2028 is gaining momentum,” said TradeTech president Treva Klingbiel.