Uranium Price Shock; Hungry Utility Demand Converges with Supply Gaps to Rocket Fuel Sector Rebound
- Uranium price has surged recently, breaking $100/lb, with expectations to reach $150/lb or higher in 2024.
- Demand is strong from utilities looking to lock in long-term contracts and from financial buyers purchasing inventory, while supply is constrained.
- U.S. utilities typically hold only 2 years of inventory but are now looking to contract with emerging U.S. uranium producers at higher volumes than before.
- Investors have opportunities across the uranium sector - producers, developers, explorers - but should evaluate companies based on technical fundamentals, operational expertise and derisking.
- Market conditions are favourable for U.S. uranium projects to restart production given rising prices and utility contracting interest.
Uranium Price Shock; Hungry Utility Demand Converges with Supply...
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