The uranium market is emerging from years in the doldrums as the overhang from the nuclear disaster in Japan is cleared and global demand picks up steam.
The spot price for U3O8 moved above $30 per pound for the first time this year as uranium producers and mine developers hoover up above-ground inventories and reactor construction continues apace.
Two new research notes from BMO Capital Markets and Morgan Stanley say today’s price marks a floor and predict a rally in prices over the next few years to the ~$50 level by 2024.
The stars seem to be aligning for a new phase of nuclear energy investment with the US, China and Europe bolstering the bull case for the fuel this month.
Stars are aligning for uranium price rally
- by: Frik Els
- April 02, 2021
- Source:
DYNAMIC WEALTH RESEARCH
- 10/27/2022
