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What’s that, you say? Which commodities won and lost in June?
Let’s have a rummage around… WINNERS
Uranium Price: US$50/lb %: +5.53% In a month signposted by tumbling markets, global geopolitical dysfunction, rising interest rates and inflation up the wazoo, the nuclear fuel stood out as one commodity that swam against the tide and made it back to shore in June.Uranium had been on a downward trajectory since an initial bump in spot prices in March beyond US$60/lb, the generally accepted price level needed to incentivise new production in the nuclear industry.That lift had come from one major factor, Russia’s war with Ukraine.After initial tumbling amid (unfounded) fears that Russian forces would cause a major disaster by bombing Europe’s largest nuclear power plant at Zaporizhzhia in Ukraine, spot buying increased as fears Russian, Uzbek and Kazakh supply could be hit by […]
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