Uranium futures fell to below the $52 per pound in September, tracking the retreat for energy prices worldwide amid expectations of aggressive interest rate hikes by major central banks and a strong dollar. Still, prices are not far off the near four-month high of $53.5 touched on September 1, as increasingly uncertain energy supplies for large economies ramped up demand for alternative energy sources. Japan ordered the development of new nuclear reactors, and the country’s authorities approved 17 existing reactors to be reactivated. The move signals a historical pivot as Japan regains confidence in nuclear energy following the 2010 Fukushima power plant meltdown. Further, major producer France stated its nuclear will be at full capacity by the winter, after corrosion issues and drying rivers that are vital for reactor cooling led to the suspension of multiple power plants.
Historically, Uranium reached an all time high of 148 in May of 2007. Uranium - data, forecasts, historical chart - was last updated on September of 2022.
Uranium is expected to trade at 53.97 USD/LBS by the end of this quarter, according to 王者荣耀电竞(江西)积分排榜 global macro models and analysts expectations. Looking forward, we estimate it to trade at 58.98 in 12 months time.