Uranium in the winner’s circle after a brutal February for commodities

Investors were keen on commodities continuing to perform well in February 2023 after a strong January 2023. In the first month of the year, we saw commodities rally hard mainly on the ‘China emerging from Covid and returning to normal/strong levels of economic growth’ trade. Some would also say the ‘Fed pivot’ trade had a part to play… and they wouldn’t be wrong given recent price action and the stronger US dollar move in the latter end of February 2023.

Iron ore, coal, lithium, rare earths, gold, silver, nickel, zinc among others fell in February. But prices still remain high from a historical perspective.

Here is some of the data :

Prices correct as of February 28, 2022. Silver Price: US$20.53 23/oz %: -10.73% Tin Price: US$24,963/t 29,490/t %: -15.35% Zinc Price: US$3000.50/t 3389/t %: -11.46% Cobalt Price: US$34,180/t %: -30.24% […]

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