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Always do your own due diligence. We seek safe harbor.
On Monday, the UxC weekly Spot price of uranium recorded its biggest 1-week decline since November 2014, falling 6.5% week-over-week, culminating in a drop of 10.5% over the last five weeks. However, throughout this week, the daily UxC Broker Average Price (BAP), which is closely correlated with spot price, gained 3%. Despite the rise in the BAP during the week, our watchlist of uranium equities (see this week’s Uranium Weekly) softened in response to Monday’s large UxC spot price drop. The BAP finished at $36.16 per pound on Friday. In precious metals, gold (↑0.8%), silver (↑2%), platinum (↑0.9%) and palladium (↑3.3%) were all up after each experienced a mid-week dip, finishing at $1,187, $16.48, 1,142 and 801 per ounce respectively. The major base metals, with the exception of nickel (↑4%), were all down for the week; copper fell slightly by 0.3% to $2.92 per pound, while lead fell 4.7% and zinc was also down slightly (↓0.1%), both ending the week at $0.92 and $1.07 per pound respectively. Meanwhile, the price of iron ore continued to surprise, with 62% CFR North China briefly breaking the $60 per tonne barrier before settling just below this figure by the end of the week. Finally, WTI crude rose above $60 per barrel mid-week before breaking even for the week and settling at $59.4 per barrel.
