July witnessed a surge in uranium trading volumes as buyers took advantage of lower prices, although oversupply is keeping pricing steady.
Utilities are beginning to show a little interest in spot uranium purchases while greater term market demand is expected this quarter.
Two Japanese reactors have now passed the strict new safety regulations, opening the way for the first restarts.
A further delay to Japanese reactor restarts and problems for ERA’s Ranger Deeps highlighted uncertainty in a uranium spot market which was again very quiet last week.
Weak activity in the first half of 2014 confirms utilities are currently well covered by existing contracts and inventories, meaning no pressure to buy.
Activity in the uranium term market has seen a pick-up but the spot market is showing little sign of life.
The spot uranium price continues to wallow as demand remains absent in the face of oversupply.
Hopes of a floor being confirmed in the uranium spot price abated last week with another price fall.
A slight uptick in the spot uranium price last week after a month of sideways drift may offer some hope for the industry.
The spot uranium price was unchanged last week but down 30% over twelve months with immediate demand remaining subdued.