Long-Term Uranium Price Climbs in July on Increased Market Activity

Activity in the long-term uranium market increased during July with utility demand emerging and several transactions reported, which led to an increase in industry consultant TradeTech’s monthly Long-Term Uranium Price Indicator to US$82.00 per pound of uranium oxide (U₃O₈) on July 31, up $2.00 from the previous month’s Indicator.

“Recent transactions and outstanding offers reflect a wide range of prices depending on a variety of factors, including the status of a supplier as an incumbent or emerging producer, the supplier’s jurisdiction, and the ability to meet a specific buyer’s delivery timing needs, which all factor into the agreed pricing specifics for a particular contract,” said TradeTech President Treva Klingbiel.

While there is upward pressure on base prices, one area where buyers are pushing back is asymmetrical floor and ceiling prices in contracts. Buyers are looking to see the benefit of any future drop in the current price just as sellers are looking to assure that they capture any increases. Another area where sellers are pushing back and unwilling to acquiesce is around which party will bear responsibility for tariffs.

Although most market participants expect uranium imports to be exempted or tariffed at lower levels, the details around the implementation of tariffs on individual countries, and uranium specifically, are less than certain. “The interpretation or application of final tariff language has the potential to result in significant disruptions, at least temporarily, as the market gains an understanding of its treatment under any trade policy agreed with individual US trading partners,” Klingbiel added.

TradeTech’s July 31 Long-Term Uranium Price Indicator of $82.00 per pound U3O8 is reflective of prices in recent transactions, outstanding offers, and off-market discussions between parties.

About TradeTech
TradeTech—and its predecessor companies—has supported the uranium and nuclear fuel cycle industry for more than 50 years and is widely recognized for its expertise in trading activities and its comprehensive knowledge of the technical, economic, and political factors affecting this industry. TradeTech provides expert market consulting, has relationships with international nuclear fuel buyers and sellers, and maintains an extensive information database on these industries.

TradeTech’s Long-Term Uranium Price Indicator is the company’s judgment of the base price at which transactions for long-term delivery of uranium could be concluded as of the last day of the month, for transactions in which the price at the time of delivery would be an escalation of the base price from a previous point in time.

The company’s “Nuclear Market Review” (NMR) is published each Friday evening, and reports the Weekly Uranium Spot Price Indicator, uranium trading activity, industry news, and market data. The monthly edition of the NMR, released on the last day of each month, includes TradeTech Market Values (Exchange Value, UF6 Value, Loan Rate, Conversion Value, SWU Value, and Transaction Value) and Mid- and Long-Term Uranium Price Indicators and Production Cost Indicator, as well as analysis related to price determinations, supply/demand information, and industry and financial news. TradeTech also publishes “The Nuclear Review,” a monthly trade publication dedicated to the international uranium and nuclear energy industry, and a quarterly “Uranium Market Study.”