Global uranium market.
Uranium prices have been under downward pressure since the Fukushima power station accident in Japan in 2011; they ended 2019 at 25.6 dollars per pound (0.454 kilograms), down from 28.8 dollars per pound a year earlier. This is significantly lower than prices between 2006 and 2015. In the near term, plentiful inventories and modest nuclear power demand in many regions will limit the prospects for price gains.
The conversion market will consolidate in Russia and see new entrants in China; both trends benefit from surplus supplies from Kazakhstan.
Investor sentiment remains poor with regard to investing in stockmarket-listed uranium firms.
China aims to double its nuclear power capacity by 2035 and its policies will shape the global uranium market.
