Uranium prices, $/lb last = 24.55 1w: +0.05 (0.2%)
20202021
Consensus (median)6066
High6568
Low4045
Standard Deviation1110
Count of Estimates53
History
Forecast
CARG Summary (Price)
RankN/S0*1*2*3*4*5*
Strong Gr.       
Growth       
Flat       
Decline       
Strong Decl.       
Forecast Distribution
Company plot
[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.