Uranium Now Trades Above $100, A 16-Year High

Uranium trading prices have surged above $100 per pound, reaching their highest levels since late 2007, as demand for nuclear energy continues to rise globally. This remarkable uptrend is fueled by ambitious decarbonization goals and the commitment of the United States and 20 other nations to triple their nuclear power capacity by 2050. China leads the charge in the nuclear energy push, with plans to construct 22 out of the 58 global reactors in development. Japan is also rekindling its nuclear ambitions, restarting projects to increase power output, and Finland recently marked the opening of Europe’s first new nuclear facility in 16 years.

In response to these developments, utilities have signed contracts for 160 million pounds of U3O8 in 2023, the highest volume since 2012. However, this surge in demand is met with increasing threats to the supply chain. Western utilities are voluntarily avoiding Russian uranium imports due to geopolitical […]

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