The price of uranium, the radioactive material used to fuel nuclear power stations, has entered a bull market following another big hit to supply. On Tuesday, Kazakh miner Kazatomprom slashed its 2020 production forecast by up to 10.4m pounds, equivalent to 8 per cent of global supply, because of government-imposed measures to mitigate the spread of coronavirus. This propelled the price of uranium to $28.70 per pound on Wednesday, up more than 20 per cent from a low in March. Such a rise since a recent low is the common definition of a bull market. The last time the metal traded above $30 was in February 2019.
FT 8th April 2020 read more »