Uranium Markets At 16-Year Highs

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Uranium Markets At 16-Year Highs

The global uranium market has witnessed a significant surge, with prices reaching a 16-year peak of US$106 per pound U3O8 in late January 2024. This sharp incline has garnered attention from investors looking to capitalise on the bullish market conditions. An amalgam of factors has driven this heightened demand and constricted supply, culminating in the substantial price increase observed in recent years. Factors Influencing Uranium Demand Multiple influences have converged to push uranium prices upward. Key among these are production slowdowns caused by supply cuts and the persistent impact of the COVID-19 pandemic. Geopolitical tensions, particularly the Russia-Ukraine conflict, have exacerbated the situation, causing market uncertainties and further tightening supplies. Sprott Physical Uranium Trust, an investment entity that purchases physical uranium, has been a significant player in the market, influencing prices through its acquisitions.Nuclear power’s comeback, especially in Japan where […]

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