ENERGO: Uranium moves past the $80-per-pound mark, a level not seen in over 15 years

Uranium prices have surged past the $80-per-pound mark, marking the first time such levels have been seen in over 15 years. This increase is attributed to a renewed demand for nuclear power and disruptions in the supply chain.

Nymex futures, which track physical-market contracts for yellowcake, the raw form of uranium, reached $80.25 per pound on November 20.

The spike in prices is a departure from more than a decade of relatively stagnant movement and is fuelled by a global resurgence of interest in nuclear power.

This trend has encountered several production challenges, prompting investors to explore opportunities in both mining shares and uranium derivatives.

While spot uranium remains a thinly traded market, the term price, crucial for power plants, has shown a noticeable upward trajectory, as reported by BMO Capital Markets Ltd.