Uranium futures continued to trade above $30.5 per pound in January, close to levels last seen in August 2020, supported by the decision of the US Senate Committee on Environment and Public Works to approve the American Nuclear Infrastructure Act designed to boost the US nuclear industry, establish a strategic Uranium Reserve, support enhancing the US nuclear fuel cycle and encourage US reactor exports worldwide. Also, the uranium market has been in a supply deficit due to mines shutdowns amid the Covid-19 outbreak. On the nuclear demand side, Iran said it resumed 20% uranium enrichment at a nuclear facility.
Historically, Uranium reached an all time high of 1349 in September of 2020. Uranium - data, forecasts, historical chart - was last updated on January of 2021.
Uranium is expected to trade at 30.14 USD/LBS by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 28.66 in 12 months time.