Monsters of Rock: Uranium could be just taking a breather as Sprott eyes higher prices

Uranium is just kicking back for the moment. Picture: Getty Images Uranium has headed to the substitute bench in recent weeks, with enthusiasm for copper, record gold prices and hopes of a lithium price rebound taking over from the glowing metal as the stories of the day.

A speculative bull run for uranium peaked at $US107/lb in January.

But despite claims from within the industry that a structural shortage of material would make rising spot prices hard to stop, new mine starts and murmurs of production upgrades from Canada’s Cameco combined to send U3O8 prices back to $US85.50/lb on Tuesday.

Is this the sign yellowcake’s cheerleaders got ahead of themselves, or just a bump in the road for the nuclear renaissance? For the latest mining news, sign up here for free Stockhead daily newsletters Sprott’s Jacob White is well and truly in the latter camp.“This retreat follows a historic rapid run for […]

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