By Mark Woodruff. The demand outlook … 14. Most industry forecasters believe that a long-term sustainable uranium spot price based on cost curve support is in the US$40-50/lb range, notes Shaw. But then the demand for nuclear weapons abated as the Cold War ended, and the construction of large hydroelectric power stations reduced the demand for nuclear power and energy. Long-term prices prior to May 2004 are not industry-averages, but from TradeTech only. This supply deficit that will surely help drive higher uranium prices going forward. It was only in 1841 when the first sample of the metal was isolated. Still, uranium has a strong fundamental backdrop with supply set to stay quite scarce after record deficit in 2020 and demand set to increase in the next two … Largest advanced, unaligned uranium project in … Uranium prices are on the rise, largely due to years of supply cuts from major miners. December 2020. Uranium Price. It was discovered way back in 1789, long before the Manhattan Project began. Kazakhstan comes in at second with 12%, and Russia follows with 9%. Daily Commodity Futures Price Chart Uranium (Globex) (NYMEX) TFC Commodity Charts. are. In any case, if you’re an investor, you only need to read the news about the increased use of nuclear power plants. Cameco, the world’s second largest uranium … Most new mine supply that could come online in the next cycle requires a base price of $55 per pound. Uranium prices continued to trend higher in 2020 as inventories were drawn down at an accelerated pace due to lower global uranium production stemming from the COVID-19 pandemic. Still, it’s undeniable that its two main uses are as the main raw material for nuclear bombs and as the principal fuel for nuclear reactors. The Price is Way too Cheap. You may be surprised to note that uranium has been in use for thousands of years, though of course the people then had no idea of the material they were using. It has been used in the gyroscopes of inertial guidance systems and as a counterweight for aircraft control surfaces. Some of these companies focus more on the mining side of the operations, while others concentrate on refining the minerals. It’s now actually possible to trade in uranium futures. Weekly Reports | Dec 22 2020. World Nuclear News. An orange powder version (UO3) is used for Fiestaware plates. The price of this element largely depends on the state of the global nuclear power industry. Shaw and Partners looks at five uranium companies in the sector. Due to the pandemic, we saw almost 50% of primary global mine supply offline at that point. UxC* $28.80 US$/lb February 08, 2021 TradeTech $29.75 US$/lb January 29, 2021 NYMEX uranium futures were trading at $30 per pound in February, below their four-year high of $34 per pound hit in May, as short-term supply concerns eased after the Cigar Lake mine restarted production later last year. While the uranium spot price continues in a narrow trading band, Cameco places its North Saskatchewan operations on care and maintenance -Cameco suspends Cigar Lake operations-Positive UK government nuclear initiatives-Uranium spot price remains range-bound. Chapter 3, the Enriched Uranium competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast. This caused the stocks of uranium mining and exploration companies to rise, and the price reached as high as $137 per pound. The answer … But the sector could be due for a big boost. The recent price of uranium was $25.95, and it has zig-zagged around there since February. They are aggregated using multiple sources. For Canadian uranium explorer and developer IsoEnergy (TSXV:ISO,OTCQX:ISENF), the widespread disruptions of 2020 are laying the foundation for better prices ahead. Trading Unit: 250 pounds of U308: Tick Size: U.S. dollars and cents per pound: Quoted Units: US $ per pound: Initial Margin: $2,700 Maint Margin: $2,000: Contract … All Futures News [ Complete Futures News] Search News: [ More UX News] Contract Specifications:UX,NYMEX. What’s more, it has other applications outside the nuclear industry. It got its name because the planet Uranus was only discovered 8 years earlier. This caused the stocks of uranium mining and exploration companies to rise, and the price reached as high as $137 per pound. Rick Rule, President and CEO Sprott US Holdings Inc has been pushing uranium since 2018 and feels the price will rise further. The spot price of uranium (U3O8) has risen by 36% since the start of 2020, to a recent high of US$34/lb. Cameco calculates industry average prices from the month-end prices published by UxC and TradeTech. Shifting over to the demand side, the story has been improving, … Below is the historical Uranium price per lb. Buyers and sellers negotiate contracts privately. Weekly Reports | Dec 15 2020. While the uranium spot price continues to exhibit low volatility, three megatrends are tipped to increase the demand outlook for nuclear energy -Three megatrends contributing to uranium demand-Strong week for uranium equities -Uranium spot price continues to trade between US$29.00-30.00/lb. August 19, 2020. Many naval ships are powered with nuclear plants, and there’s some interest in marine nuclear propulsion for civilian ships due to the concerns over greenhouse gas emissions. MarketsInsider shows that a significant rise in uranium prices has been underway since the pandemic began, up to $34 from $24 per pound of U3O8, a price that had been pretty stable for over a year. Similarly, URA Global X Uranium ETF was up by ~31% from 23 March to 8 April 2020. Major producer Kazakhstan is slowly restarting some idled uranium production, but due to the low uranium price they are not forecast to reach full production inside three years, he said. The prices we actually realize will be different from the prices shown in the table. It was one week ago when we wrote about the uranium market: Uranium Price Explodes, Is This A New Bull Market. Read more The year 2020 has rather been a kind year for Uranium as we witnessed its prices surge by ~22% from US$24 per pound on 17 March 2020 to US$29.45 per pound on 9 April 2020. Mind the gap.’ Although the utility demand for uranium is increasing fast, utilities have put off …