Despite a Rough September, Uranium Poised for Power

Sprott senior analyst Jacob White wrote about uranium’s bumpy September as part of the latest Sprott Uranium Report .

September was a month of widespread drawdowns, and uranium was no exception, with spot prices falling 8.66%. This is the largest monthly decline uranium has seen since March 2019. Uranium miners also took a hit to the tune of 16.17%, the worst performance since the creation of the North Shore Global Uranium Mining Index in June of 2017, according to White. The S&P 500 fell 9.21% in September and broad commodity markets had their toughest month since March 2020. White believes that September’s suboptimal performance “belies the strong fundamentals of uranium markets,” which stand poised for a long bull run as the world grapples with the urgent need for clean, reliable energy. White wrote, “U.S. dollar (USD) strength was the primary factor for September’s negative performance results. Higher-than-expected inflation data forced […]

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