16 Feb 2024 12:14

Uranium prices rise to $103.2 per pound - Trading Economics

MOSCOW. Feb 16 (Interfax) - Uranium prices reached $103.2 per pound in February and remained above one hundred dollars throughout the month, despite concerns about continuity of supply, the Trading Economics publication said.

The publication said that the market continues to evaluate the reduction in the production forecast of Kazatomprom, the largest uranium producer, which announced it in January amid difficulties stemming from the availability of sulfuric acid, a key component in the uranium mining process, as well as delays in the completion of construction work in new mines." "However, the company remains committed to its uranium supply obligations in 2024," the company said in a statement.

Kazatomprom's potential difficulties overlapped with Cameco's lower forecast last year. In addition, uncertainty remains regarding the production of French Orano after the recent coup in Niger and the decision by the American authorities regarding uranium imports from Russia.