Uranium

Paladin Energy has made an equity placement to a Chinese equity firm, resolving the company’s near term debt issue and allowing for exploitation of higher uranium prices.

The strong run-up for spot uranium saw sellers jump in and buyers retreat last week, forcing the biggest weekly price decline since Fukushima.

The sudden surge in the spot uranium prices is feeding on itself as traders pile in.

Last week the uranium spot price posted its second biggest price hike in eighteen years, surging to US$42.00/lb.

Local government has voted to approve the restart of the first two Japanese reactors to have passed strict new safety standards.

The spot uranium price increased last week as utilities returned to join speculative buyers on the demand side.

It is not those Japanese citizens living next to reactors that are holding up restart proceedings, but those outside the beneficial zone.

As uranium prices continue to find long-lost support, the focus swings back to just when Japan might restart the idled reactors that sent prices crashing in the first place.

As 2014 ends with a whimper, brokers are becoming more subdued about the outlook for most commodities in 2015.

Following last month’s surge in the spot price, uranium term prices have now shifted upward.