Uranium prices, $/lb last = 27.9 1w: -0.1 (-0.4%)
201920202021
Consensus (median)556066
High706568
Low304045
Standard Deviation151110
Count of Estimates753
History
Forecast
[Neutral]

Despite supply cut by Kazakhstan and some more Japanese nuclear restarts, prices for Uranium remains low. There are two reasons for this: first, global inventories are huge, and second, loss-making assets at the top of the cost curve continue to be operated for strategic purposes. I believe that prices will eventually recover, though the recovery may take time. The thing is uranium behaves somewhat differently to other commodities: one purchases uranium not for consumption today but rather for stocking/forward coverage purposes in terms of demand.