Uranium has been trading around $29 per pound in November, slightly below its four-year high of $34 per pound hit in May as short-term supply concerns eased with Cameco and Kazatomprom, world's biggest producers, coming back online after coronavirus-induced shutdowns. However, these two largest miners began cutting production in 2018 to lift uranium prices, leading to a supply deficit. The suspension of operations in March and April added to concerns of a long-term shortage as demand is due to increase from the reported 55 new reactors currently under construction.
Historically, Uranium reached an all time high of 1349 in September of 2020. Uranium - data, forecasts, historical chart - was last updated on November of 2020.
Uranium is expected to trade at 28.81 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 27.40 in 12 months time.