Uranium’s 22% price plunge is bottoming out on nuclear future

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Uranium’s 22% price plunge is bottoming out on nuclear future
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Uranium may have lost some sizzle after an electrifying 10-month rally, but analysts and investors aren’t losing faith in the long-term prospects of the nuclear fuel.

Uranium futures are trading at $88.50 a pound in New York — down from the 16-year high reached in February, but still well above last year’s average price of $66.60 a pound. Kazatomprom, the No. 1 producer, said during its March 15 earnings call that it is projecting a 21 million pound supply deficit in 2030 — a shortfall that would multiply to 147 million pounds by 2040.

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