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Higher Uranium Prices Allow Miners to Resume Production
Physical uranium gained ground in October, while uranium miners declined; most commodities suffered in October but uranium continued to show resilience to macroeconomic factors. YTD, uranium is up 54.16%; senior and junior uranium miners have risen 44.85% and 32.77%, respectively. Uranium demand has been primarily driven by increased utility contracting, which we believe provides strong support and sustainability to higher price level. Looking ahead to 2040, utilities have 1.5 billion pounds of cumulative uncovered uranium requirements. The nuclear fuel supply chain continues to move away from Russia. The strength in ... (full story)