( Kitco News ) – The uranium spot price, which reached beyond $60 per lb in April, rose over the year by 14 percent. The yellow metal’s limited supply and increasing demand will cause its price to rise even higher, said Lobo Tiggre, Editor at The Independent Speculator.
"This time is different… my forecast is that we’ll probably see uranium head higher over the next year, easily," he said. "$60 is very easy as a floor. $70, I think, is doable, and maybe up to $80."
He pointed to supply remaining limited with "voluntary supply constraints," meaning that miners are hesitant to dump uranium on the market, which would bring down prices and hurt profits.
"I think it’s a legitimate concern to say there have been voluntary supply constraints," he said. "You know, Cameco has issued very vague guidance about how much production they’re going to be seeing from McArthur River, their […]
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