Uranium Prices Falls To $105/lb: Auction of 200 tons Next Week

The uranium spot price has fallen $5 from $110/lb to $105/lb. Despite the recently dip in the uranium spot price, the long term uranium price indicator remains unchanged at $95/lb.

However, the US Department of Energy has said it will be auctioning 200 tons of uranium hexafluoride next week.

To be fair, the recent dip in uranium prices is based on extremely low volume, with the most recent transaction amounting to only 50,000 pounds, a tiny amount.

Uranium analyst Sam Kirtley of The Uranium Stocks Newsletter said: “The fundamentals for uranium remain very bullish as the world is still going to switch from burning fossil fuel to using nuclear technology, and this switch requires a great deal of uranium. Even at current prices, uranium stocks stand to make a fortune as extraction cost are only about $30/lb on average for uranium. Therefore in the long term we remain very bullish on uranium and uranium stocks.”

Do you think the US government should be selling uranium when it is in such short supply?

Will the world switch to nuclear power?

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