Ann: S&P DJI Announces June 2024 Quarterly Rebalance, page-12

John Quakes

@quakes99

ICYMI... The price for Spot enrichment SWU, a leading indicator for where #Uranium prices are headed, hit a new all-time industry high in May signalling that higher prices for mined #U3O8 are on the horizon.  At last week's World #Nuclear Fuel Market conference in Atlanta, uranium traders were talking about how the market signals are now supportive of a rebirth of the Carry Trade with traders looking to buy up available Spot supply at sub-$90 levels that they can sell on in future to Utilities under supply contracts at higher prices.

This marks a reversal from the unwinding of the Carry Trade that began after SPUT started stacking over 47 Million lbs of physical U3O8 in August 2021.

IMHO, the fact that uranium traders are now looking to profit from higher prices on the horizon via a Carry Trade is a clear signal that there is growing confidence among Spot #U3O8 traders that we will see $150 to $200 Spot prices in the coming years.

NexGen $NXE's recent off-market purchase of 2.7 Million lbs of physical U3O8 was already signalling this new level of confidence that higher prices are coming. A renewed interest in restarting the Carry Trade provides confirmation to U #mining #stocks investors that this bull market still has a long way to run, imho.

https://x.com/quakes99/status/1799841851433992560