Well, that escalated quickly.
Uranium prices have shot up 60% since mid-August, with spot prices topping out at $48 per pound — their highest level in nine years.
On the one hand, that shouldn’t really come as a surprise. In fact, it should have happened much sooner.
Uranium sources have been under-developed ever since the Fukushima disaster in 2011. Back then, uranium prices were as high as $70 per pound, which is about the cost of mining the metal. But in the decade that followed, prices plunged as nuclear power faced a flurry of scrutiny not seen since Chernobyl.They even fell below $20 per pound at one point, spurring outcries from contrarian investors like myself.In fact, not to brag (or maybe to brag a little), I called the market bottom…"Today it’s worth just $20.25 per pound," I wrote in 2017 . "Still, that’s up from where uranium prices were a year ago, […]
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