"Outlook for nuclear energy as a carbon-free energy tool has “never been better”, Nuclear has seen a revival recently all around the world with new build reactors from East to West"
Housekeeping: New daily format based on requests and some ideas.
Today:
Market Rundown
Uranium Report, OPEC Follow Up
Top News Items
1- Market Rundown
Good Morning. The dollar is down 5 points. Bonds are weaker. Stocks are up slightly at 10-35bps. Gold is up $1.0 ( note it was sold in Asia, and bought in Europe.. something noted as a flip-flop of sorts recently). Silver is up 13c. Oil follows through up 56c. Nat Gas is up 1.5% but that is not to be taken seriously as the vol of vol is huge in NG now. 1 BTC is up 2%. ETH is up 3%. Grains are mildly mixed.
Have a good day.
2- Uranium Report Excerpt
Very good, very comprehensive report on Uranium. Loaded with insights. Touches on the whole industry from fundamental to financial ( at bottom) and is easy to understand
Last Thursday (March 30), we hosted a discussion of uranium markets with Director / Head of Uranium at Curzon Resources, Bram Vanderelst. The discussion included the outlook for pricing, Russian sanction risk, underfeeding/overfeeding, details of a new physical uranium investment vehicle (Zuri-invest), and more.
Vanderelst sees the uranium (U3O8) price as ready for a breakthrough higher. We are bullish uranium prices on a multiyear view, expecting prices above $70 per pound (/lb) by 2025E. A Global Uranium call replay will be available for four weeks. See detailed notes on pages 2-6.
Price Outlook: A repeat of 2006-07 is on the table.
The analyst thinks that the outlook for nuclear as a tool of decarbonization has “never been better” and argues similarly for uranium (U3O8), where he sees an annual undersupply of 50-60 million pounds (Mlbs).
He sees the physical uranium market as illiquid, on the bid and offer side, with little uncommitted material. The market is highly exposed to potential issues with new mine builds and a potential incoming flood of investor money.
Similar conditions in 2006-2007 drove the U3O8 price to $137/lb (now $50.65/lb, as per UxC, LLC). He does not discount that in this cycle.
The analyst gives a micro to macro price outlook and the drivers behind them, followed by an extended Q&A.
