Uranium is in the Canadian spotlight once again thanks to significant financial investor interest in the mineral. Uranium market participants say the nascent phenomenon has its benefits, but speculation abounds as to how the price surge will affect the utilities amid an excess of demand over supply. Uranium prices have been extremely volatile in September—rising to above US$50 a pound by mid-month—up about 40 percent, which is more than all other major commodities, according to Bloomberg. Prices fell to around US$45 in late September, which is still up more than 30 percent in the month. This is coming on the heels of very stable prices over the last five years, after a gradual decline over the five years prior. Prices peaked at US$136 a pound in 2007. As of Sept. 28, the Sprott Physical Uranium Trust, a Canada-based exchange-traded fund, is up about 35 percent since its July 19 inception. …
Uranium Prices Surge on Financial Interest After Years in the Doldrums
September 29, 2021
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