19 Sep 2022 06:15 am
In view of the energy crisis in Europe, investors expect the price of uranium to continue to rise. According to experts, if the mood shifted in favor of nuclear energy in Germany, this would “immediately affect the market”.
Uranium prices are currently trading at their highest levels in ten years. The high price reflects investors’ expectation of upcoming demand. The price is being driven, among other things, by the energy crisis in Europe Financial Times. The last time uranium futures traded as high as current prices was 10 years ago, according to nuclear fuel market research and analysis firm UxC.
The price of so-called “yellowcake”, i.e. uranium salt, which is obtained by leaching as an intermediate step in the processing of uranium ores, rose by 7 percent to more than 50 US dollars per unit. Bank of America analysts expect the price to rise to $70 per unit as early as next year. The price hike is being attributed to the recent surge in demand for the commodity across Europe, where the energy crisis is deepening. In addition, the price reflects a fundamental change in attitudes towards nuclear energy in regions such as Japan, the US state of California and Germany.
Per Jander, director of nuclear and renewable energy at WMC Energy, said the Financial Times:
“Germany and California were the two regions of the world with a particularly negative attitude towards nuclear power. Sentiment is now changing in both regions. I would have rather thought hell would freeze over before that happens. That will have an immediate impact on the market. “
According to analysts, the market remains vulnerable to a possible reduction in uranium shipments from sanctions-hit Russia. Although the country accounts for just 5 percent of global uranium production, it is responsible for more than 40 percent of the world’s actively available enrichment capacity, according to Berenberg data.
“The sanctioning of Russia has the potential to be a source of market disruption and high price volatility,” analysts at Berenberg said in a report published by the Financial Times present.
more on the subject – Flatten the Curve: The crude energy saving plans of the EU
By blocking RT, the EU aims to silence a critical, non-pro-Western source of information. And not only with regard to the Ukraine war. Access to our website has been made more difficult, several social media have blocked our accounts. It is now up to all of us whether journalism beyond mainstream narratives can continue to be pursued in Germany and the EU. If you like our articles, feel free to share them wherever you are active. It’s possible because the EU hasn’t banned our work or reading and sharing our articles. Note: However, with the amendment of the “Audiovisual Media Service Act” on April 13, Austria introduced a change in this regard, which may also affect private individuals. That’s why we ask you not to share our posts on social media in Austria until the situation has been clarified.
Source: RT
