2259 GMT - The global uranium market is about to enter a lull, says Jefferies. Uranium demand remains structurally strong, and sentiment in the sector continues to improve, analyst Daniel Roden says. Still, Jefferies expects the market to seasonally soften over the next few months as utilities in the Northern Hemisphere buy less over their summer. It forecasts a 3Q uranium price of US$72.5/lb. "Transaction volumes typically decline in this period," Jefferies says. It expects a more robust market from September. "The persistence of firm term prices throughout the current dip reinforces the tightness in forward supply and underpins our constructive outlook for uranium into late 2025," says Jefferies. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 03, 2025 18:59 ET (22:59 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.