The market for uranium has calmed a bit after seeing prices for the commodity more than quadruple since the start of 2020, but bullish analysts say the nuclear industry continues to “build momentum,” and uranium production will fail to meet demand. The “nuclear renaissance” comes at a time when it’s become easier than ever to gain exposure to the nuclear sector and as investment options are set to grow, said Jeremie Peloso, editor and strategist at BCA Research.
Weekly spot uranium prices traded as high as $106 a pound as recently as the week ended Feb. 5, trading more than four times higher than the $25 value they saw at the start of 2020 according to data from nuclear-fuel market information and analysis firm UxC. More recently, prices eased back to $95 as of the week ended Feb. 26, but still trade more than 4% higher year to date. “The market has been sort of trading sideways as buyers and sellers are looking for signs of direction on the next move,” said Jonathan Hinze, president at UxC. “While the fundamentals are still very strong with tight supplies facing rising demand, the spot market hasn’t really seen mu …
Article Attribution | Read More at Article Source
Weekly spot uranium prices traded as high as $106 a pound as recently as the week ended Feb. 5, trading more than four times higher than the $25 value they saw at the start of 2020 according to data from nuclear-fuel market information and analysis firm UxC. More recently, prices eased back to $95 as of the week ended Feb. 26, but still trade more than 4% higher year to date. “The market has been sort of trading sideways as buyers and sellers are looking for signs of direction on the next move,” said Jonathan Hinze, president at UxC. “While the fundamentals are still very strong with tight supplies facing rising demand, the spot market hasn’t really seen mu …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]