The question of when the uranium market will turn depends upon when the utilities start to worry about locking up fuel supplies,” said Lundin. “They’ve been patient over the past few years, but I think they’re going to have to start moving over the next year.”
Lundin said China’s current and planned construction of nuclear power plants is a good indicator of future demand. Mainland China has 26 nuclear power reactors in operation and 25 under construction, with more planned, according to the World Nuclear Association.
Once uranium prices rise, Handwerger said, uranium miners will “likely outperform” and the Global X Uranium ETF could double in price in three to five years. Experts say concrete signs of increased demand could be seen this year.
“The market does seem to have some legs right now,” Hinze said. “We could see a gradual strengthening over the coming months.”
Purely My Own Opinion. Do Your Own Due Diligence.
“Formula for success: rise early, work hard, strike oil.” - J. Paul Getty
