Yellowcake (uranium concentrate) produced at Cameco’s Rabbit Lake mine in Saskatchewan. Credit: Cameco Source: Trading Economics Since then, there has been a moderate pull-back; uranium is now consolidating just above $90 per pound.
So, can uranium rip higher from these elevated levels?
Well, that depends. Last year’s terrific run was driven by strong demand outlooks.
Uranium, the fuel for nuclear reactors, has benefitted from renewed interest in building global nuclear capacity. That’s partly due to the push to go green.Here, nuclear power offers baseload power that’s carbon-free and reliable. Whether night or day, cloudy or windless, nuclear provides uninterrupted power.But there’s another important side to the nuclear story: costs are rising.Despite central bankers’ claims to the contrary, inflationary pressures continue to loom.Rising tariffs and trade tensions between the world’s two largest economies, China and the US, threaten to bifurcate global trade.This is highly inflationary and occurs just as the US ramps up […]
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