Uranium is becoming an integral piece of the energy conversation as many countries return to nuclear energy to help them achieve their net-zero goals. The Russia-Ukraine conflict is also amplifying the need for energy security, with fears of potential sanctions and disruption to normal market operations creating uneasiness in the uranium market.
Long-term prices have been below or on par with spot market prices, suggesting the price is running on supply fears rather than fundamentals, a consultant at CRU International Ltd told Third Bridge Forum. “To a certain extent, it shows the backwardation in the market and the supply fears rather than the long-term concern, but, of course, with the situation developing, nothing is off the table.”
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