https://www.fnarena.com/index.php/2022/12/13/uranium-week-the-russia-factor/

One non-US utility issued a Request for Proposals on November 24, seeking over 5mlbs U3O8 equivalent contained in enriched uranium product, TradeTech reports. The utility is requesting material be delivered between 2023 and 2027, with optional quantities in 2028 through 2030, and has specified that the material be non-Russian in origin.

Increasing inquiries from utilities, along with expectations by sellers that prices will rise in the future, means that utilities are seeing a narrower range of pricing than what has been offered in recent months. Sellers are not only focusing on the price in their offers but are seeking longer-term commitments that extend beyond five years and preferably ten years.

Based on recently concluded transactions, TradeTech notes buyers have shown a willingness to meet sellers at the current price level. Buyers who are confining their purchases to the mid-term delivery period are seeing not only higher prices due to tightness of supply, but tighter terms around quantity flexibility.

That said, TradeTech’s term price indicators remain at US$51.00/lb (mid) and US$53.00/lb (long).

Meanwhile…

With all the action in term uranium markets, and further investment apparently drying up in the Sprott Physical Uranium Trust, the spot uranium market appears to have all but closed down for the year.