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Uranium Oxide Concentration (UOC) is processed into UF6 then enriched to the specifications that a nuclear power reactor needs. This is referred to as Enriched Uranium Product (EUP) - something that has been dominating the market since the 60's.
The biggest consumer of U is the USA; from about 20,000 - 25,000 tU per year in the 1980s to 7,000 tU per year in recent years.
Today's supply is about 56,000 tU and an astonishing 3.116 Million tons of Uranium since exploration began.
The lowest price in the spot market was in 2003 at $9 and highest in 2018 at $137. Today, it is about $50 (ranges from $35 - $70).
Listen to more of these in the podcast!
