SUBSCRIBER NOTE: Platts updates proposal to launch global uranium U3O8 assessment

Following industry feedback, S&P Global Platts has updated its proposal to begin a global spot price assessment for uranium in the form of U3O8 starting November 9, 2018.

Platts has adjusted its proposal so that the proposed assessment will now reflect volumes of 100,000 lbs for delivery within one year from the time of publication, having previously proposed an assessment of 75,000 lbs and 180 days.

Prices will be normalized to reflect delivery six months from the publication date.

As previously stated, prices would be in US dollars per lb and reflect typical commercial specifications for U3O8 that meet the conversion facility guidelines.

The assessment would reflect the transaction value of a U3O8 title transfer (also known as a book transfer) at licensed uranium conversion and/or refining facilities in Canada, France or the US.

Platts would reflect value for U3O8 in Canada, and would normalize trades for delivery to other locations as well as material delivered on other terms.

Platts may consider other volumes and delivery periods in the assessment process that would be normalized to the standard specification.

The price assessed would reflect value at 1 pm US Eastern time on Fridays to include trading in the US and globally.

In the case of Friday being a public holiday in the US, Platts would assess on the prior business day.

Please send all questions and feedback to nucleareditorial@spglobal.com and pricegroup@spglobal.com by October 5.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.