Experts bullish as global uranium squeeze builds. But keep an eye on Sprott

The squeeze is on – and the result is anything but sour for ASX uranium stocks. Picture: iStock Uranium has started 2024 the same way it ended 2023 – like a bull in a china shop.

Spot prices are now agonisingly close to $US100/lb for the first time since 2008, with term pricing not far behind.

“This year alone, demand is around 200 million pounds and supply is about 160 million pounds,” says Justin Huhn, founder of Uranium Insider .

For the latest mining news, sign up here for free Stockhead daily newsletters “That means we’re about 40 million pounds short.”The years of deficits which helped push prices up 90 per cent last year are not going away, even as mothballed mines enter restart mode and advanced projects hit the button on development.This speccy graph explains why global resources stocks, pundits and punters are boarding the yellowcake train. The world faces […]

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