All readers are encouraged to perform their own due diligence. Kazakhstan’s behemoth, meanwhile, expects a deficit for 2020 and quoted third-party estimates Monday that primary uranium supply could decrease over 10% … “I’m not ruling out more correction first,” he said. Uranium Price: Get all information on the Price of Uranium including News, Charts and Realtime Quotes. Responsible for 43 percent of global uranium production, the Central Asian nation began reducing its annual production levels in 2018 and plans to continue “flexing down” its uranium output through 2022. Uranium Price Forecasts Energy & Metals Consensus Forecasts™ is the result of a comprehensive monthly survey of over 40 of the world’s most prominent commodity forecasters covering over 30 individual commodity price forecasts including uranium. Weekly Reports | Dec 15 2020. In 2006, Cameco’s (TSX:CCO;NYSE:CCJ) massive Cigar Lake mine in Saskatchewan flooded, stalling production for several years at one of the largest undeveloped uranium deposits in the world. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. It is designed to indicate how the portfolio of long-term contracts we had in place on September 30, 2020 would respond to different spot prices. Uranium Trends 2020: Deep Production Cuts Fuel Price Growth Uranium Outlook 2021: Positive Fundamentals Point to Growth Top Uranium Stocks of 2020 on the TSX and TSXV In terms of future demand for uranium, 53 nuclear reactors are in various stages of construction worldwide. Uncertainty related to these policy matters contributed to a soft uranium price throughout fiscal 2020, with the spot uranium price trading within a narrow band and weakening over the period. Mercenary Geologist Mickey Fulp has advised, “Not even insiders have an idea of when this is going to turn because the market is so opaque.”. The global Uranium market is valued at xx million US$ in 2020 is expected to reach xx million US$ by the end of 2026, growing at a CAGR of xx% during 2021-2026. For example, in 2019 Cameco bought 12 million pounds from the spot market. In 2020, COVID-19-induced supply disruptions at the world’s top uranium mines briefly supported spot price gains of more than 30 percent in the first half of the year. Huge cuts to global uranium production have come from Kazakhstan, ranked as the world’s largest uranium-producing country. After the 2011 Fukushima disaster, the uranium spot price began a slow slide to lows not seen since the start of the century, ultimately bottoming out at US$18 in November 2017. In fact, according to experts at Red Cloud Securities, the price of … Uranium is an important fuel source for the nuclear energy industry. Direct access to our calendar releases and historical data. The Trading Economics Application Programming Interface (API) provides direct access to our data. In Canada, Cameco shuttered the Saskatchewan-based McArthur River mine in 2018 and temporarily closed Cigar Lake — the world’s top uranium mine — in response to the coronavirus pandemic. Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. Uranium prices are mainly influenced by aboveground mine supply and demand for nuclear energy. Let us know in the comments below. “When that happens, miners will demand — and get — much higher long-term prices, which will drag spot prices up in response,” said Tiggre. UxC estimates that cumulative nuclear fuel requirements not covered by current contracts are about 1.5 billion pounds to the end of 2035. The tight supply situation, heightened by years of low prices, also played a part in pushing the spot price past the US$70 level. RBC Capital Markets has lowered its long-term uranium price from US$65 per pound to $50/lb. Then it rose gradually again, until the uranium bubble of 2007. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Energy Minerals > Research. In the second quarter of 2020, Philip Johnson of nuclear fuel cycle firm UxC forecasted a uranium production decline of 13.1 million pounds for the year. The uranium price hit a … The 2018 total of 40 million pounds U3O8e was 6% lower than the 2017 total of 43 million pounds U3O8e. For a few months we did not look into the uranium market. 1988-2021 Data | 2022-2023 Forecast | Price | Quote | Chart | Historical. Analysts are cautiously optimistic about uranium prices. In 2010, uranium prices slipped further into the US$40 range. This caused the stocks of uranium mining and exploration companies to rise, and the price reached as high as $137 per pound. By Mark Woodruff Current Price: 1.020 USD. The Uranium Committee of the Energy Minerals Division of the American Association of Petroleum Geologists just released their draft 2020 Annual Report last week and the prices … Your trusted source for investing success. We have limited the number of investor kits you can request to 20. Uranium prices have been struggling to climb out of a decade-long trough. The next such rise may come as early as the end of 2020, when major uranium companies like Kazatomprom and Cameco may make further purchases on the uranium spot market to fulfill their long-term contracts with utilities. The analyst firm anticipates that this growth will happen “as producers as well as utilities enter the market to purchase pounds as uncovered demand post-2021 grows.”, Still other uranium market watchers have cautioned that a near rebound in the uranium market is a tough call to make. However this may be changing now with an explosive breakout that took place this week. 16 November 2020. In 2011, the price of uranium got a serious push to the upside along with other energy metals as the global economy began to recover. Top uranium producers are Kazakhstan, Canada and Australia. The consequences of an enduring low-price environment in the uranium industry have been significant curtailments in uranium production, as well as a dearth of new discoveries. In 2020, COVID-19-induced supply disruptions at the world’s top uranium mines briefly supported spot price gains of more than 30 percent in the first half of the year. A true renaissance for uranium might be a few years off, but market participants are likely to see a series of incremental price increases along the way, Lobo Tiggre, founder and editor of Independent Speculator, explained to INN in an email. Looking forward, we estimate it … Tight supply conditions — including the closure of Australia’s Ranger mine next year — will force a lift in uranium prices, the report forecasts. 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. Only about 10 to 15 percent of uranium trades happen on the spot market. In the decade or so since then, uranium prices have struggled to breach the US$29 level. Select 20, complete the request and then select again. Free Reports for New Investors, Base Metals Outlook And Investing Opportunities, Copper Price Outlook and Copper Stocks to Watch, Energy Investing Outlook and Energy Stocks to Watch, Uranium Price Forecasts and Top Uranium Stocks to Watch, Precious Metals Outlook: CEO’s, Analysts on Gold, Silver and Platinum, Gold Price Forecast and Gold Stocks to Watch, Tech Forecast and Promising Tech Stocks To Buy, Emerging Tech: Advances in AI, Virtual Reality and Mobile, Outlook and Opportunities in the Gaming Industry, Cleantech Market Trends and Cleantech Stocks to Buy, Archived - Tech Shaping the Future: XFuture Conference Report 2019, Investing in Esports: Stocks, Trends and Rising Demand, Coronavirus Investing: An Overview for Investors, Life Science and Healthcare Investing in 2020, Pharmaceutical Investing Principles And Pharmaceutical Stocks To Buy, Biotech Investing - Top Stocks, ETFs and Future Prospects, the number of nuclear reactors online, under construction or planned, the signing of long-term contracts between uranium suppliers and utilities companies. Uranium is expected to trade at 30.19 USD/LBS by the end of this quarter, according to Trading Economics global macro models and analysts expectations. China is constructing 11 of these new reactors, while 20 nuclear reactors are planned in Russia and India has 7 nuclear reactors under construction. Uranium Market Outlook Navigating Market Volatility Rebalancing Supply to Demand. With its production cuts in 2020, the company is expected to purchase an even greater amount of U3O8 at spot prices. Cobalt Outlook 2021: Demand to Rise, Higher Price Environment Ahead, Aluminum Outlook 2021: Surplus Expected, Lower Prices Ahead, Lithium Forecast 2021: Execs Optimistic on Long-term EV Trend, Start Here! So when can investors expect to see uranium prices go up? And remember you can unsubscribe at any time. But prices have bottomed out in the past decade, with many investors wondering when the market will rebound. On the supply side, major uranium producers are still cutting back on their output levels while new uranium exploration projects are few and far between. Chart UK Enriched Uranium Sales Price ($/Unit) 2015-2020 Chart France Enriched Uranium Sales Volume (Units) and Market Size (Million $) 2015-2020 Probably not, but I would say certainly in 2021.”, Raymond James forecasts that spot prices will average US$42.50 in 2021 and US$45 in 2022. Uranium has experienced a wide price range this century — while its highest level was nearly US$140 the lowest U3O8 spot price came in at just US$7. Earnings growth for 2020 is a modest +18.2%. 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. “The longer the recovery of the long-term market is delayed, the less certainty there will be about the availability of future supply to fill growing demand,” as per an industry supply and demand report on Cameco’s website. “In fact, recent data from the US Energy Information Administration shows that utility inventories are starting to decline and are approaching levels that could put security of supply at risk.”. Uranium price chart via Trading Economics. Our market analysis explores supply, demand and prices of uranium in key regions around the world, with forecasts of up to 25 years. Do you think the uranium price is poised for a rebound? TradeTech $30.20 US$/lb December 18, 2020. Chapter 12, Enriched Uranium market forecast, by regions, type and application, with sales and revenue, from 2020 to 2026. The following table is not a forecast of prices we expect to receive. Some investment opportunities are limited to accredited investors. In January 2020, Rick Rule of Sprott (TSX:SII,NYSE:SII) told the Investing News Network (INN) that investors interested in uranium should be prepared to take the long position — in his opinion, it could be awhile before we see a rebound in the uranium market. However, these factors increasing fuel demand are of… Today's Uranium prices with latest Uranium charts, news and Uranium futures quotes. The uranium price popped about its long term breakout level at 30 points, started consolidating around 32 points … and this week it continued its breakout. The spot uranium price has now fallen over 85% from its 2007 peak and is at a level not seen since mid-2004. 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