Uranium prices have spiked 50% this year and are set to climb further on stockpiling and risk of bans on Russia exports, Bank of America says

Mordolff/Getty Images Uranium prices have soared 50% this year and look set to climb even more, Bank of America said Tuesday.

The risk of bans on Russian uranium imports by Western countries is contributing to driving up prices.

The investment bank raised its uranium price estimates for 2022 through 2027 by 20% on average.

The risk of Western import bans on Russian uranium supply has contributed to this year’s surge in prices for the nuclear-energy element and Bank of America in adjusting its price outlooks foresees further gains. Uranium spot prices have climbed 50% year-to-date in hitting $63.60 a pound, with most of that gain — 47% — taking place since Russia launched a war against Ukraine in late February, the investment bank said in a Tuesday research note.Russia is a key force in global uranium supply chains, in part as makes up 17%, or an […]

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