S&P Global Platts is expanding its global spot price market reporting for uranium in the form of U3O8 by assessing and publishing 12 months of forward delivery pricing, starting November 15, 2019.
Following a proposal published on September 3, which can be seen here, Platts is adding assessments reflecting the transactional value of a U3O8 title transfer (also known as a book transfer) for the prompt 12 monthly delivery windows. Month one is the current month and rolls forward on the first day of each subsequent month. The decision differs from the proposal, which described a series of four three-month delivery window averages.
Like the existing Platts U3O8 assessment, AFUEL00, launched November 9, 2018, the new price assessments will reflect delivery at a licensed conversion facility in Canada, with deliveries at other locations normalized as needed. The existing Platts U3O8 spot assessment, which is the average of the first forward 12 monthly values and assessed on Fridays, will continue to be published. Platts will continue to reflect typical commercial specifications for U3O8 that meet the conversion facility guidelines in volumes of 100,000 lb for delivery within each of the delivery windows from time of publication. Prices will be in US dollars per lb.
Platts may consider other volumes and specifications in the assessment process that would be normalized to the standard specification.
The prices assessed would reflect value at 13:00 hrs US Eastern time on Fridays to include trading in all regions, including the US. In the case of Friday being a public holiday in the US, Platts would assess on the prior business day.
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