Bullish signals for uranium prices emerge: BofA

© Reuters. Investing.com — Bullish signals for uranium prices are emerging as a result of several market dynamics and geopolitical factors, according to analysts at BofA Securities.

The recent uncertainty surrounding the availability of Russian-origin enriched uranium, coupled with concerns about a potential retaliatory export ban by Russia in response to U.S. sanctions, has underscored the critical issue of supply security in the uranium market.

Despite a softer-than-expected market in 2024, with lower activity from U.S. fuel buyers due to geopolitical tensions and a temporary supply increase from Kazakhstan, these factors are expected to drive up uranium prices in the near term​.

BofA Securities maintains a bullish outlook on uranium, forecasting persistent market deficits until 2027.Although they adjusted their near-term price forecasts downward for 2024, marking the third quarter prices at $81.63 per pound and reducing their full-year forecast to $89.10 per pound (a 13% reduction), they foresee a strong recovery in […]

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