U.S. nuclear power generation at historical heights as investors buy uranium

There has been a lot of talks lately about fossil fuel energy source prices rising, particularly coal and gas prices. But did you know that uranium prices are up 64% since the August low, and are now at US$47.20/lb?

Uranium prices are up 64% from the August 16, 2021 low (as on 18 October 2021)
The reason uranium prices are rising is that supply has reduced and demand is reviving with an upward trajectory.

Uranium supply
In 2020, ~46Mlbs or ~35% of global supply of uranium production (annualized), was suspended due to low prices. Kazatomprom, the world’s largest uranium miner, announced a 20% reduction in production into 2023. Cameco shuttered McArthur River and (largest in Canada) Cigar Lake mines, and there are several others . Meanwhile, U.S uranium production is non-existent, or as Ur-Energy states : “2020 – 2021Q2: U.S. uranium production continues to be so low EIA unable […]

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