‘The squeeze is on.’ Uranium prices hit new record and industry watchers see further to go

This aerial photograph taken on on October 4, 2023, shows the Rooppur Nuclear Power Plant in Rooppur. Bangladesh on October 5 accepted the first uranium delivery for its Russia-backed nuclear plant, a project aimed at bolstering its overstretched energy grid but complicated by sanctions on Moscow. Uranium prices surged on Monday as fresh supply worries hit an already strained market. (Photo by Abdul GONI / AFP) (Photo by ABDUL GONI/AFP via Getty Images) Agence France-Presse/Getty Image While stocks dither in the new year, a dramatic rally has been under way in one corner of the commodity market that industry watchers expect to just keep going.

The spot price for uranium, vital for fueling nuclear reactors, climbed to just over $103/pound on Monday, a level not seen since 2007, according to a chart from Numerco , a U.K.-based spot price for uranium. That follows a roughly 90% price gain for the […]

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