Daily moves of over $3 in the uranium spot market.

Equities exposed to the net-zero rocks are still yet to move significantly, presenting a once-in-a-lifetime opportunity for investors.

Uranium is turning out to be the hottest commodity of 2023.

The price of spot uranium has moved spectacularly in recent trading days.

Net-zero rocks, needed for the global push to carbon-free energy, have now moved into territory not seen since the mid-2000s. 

On Monday 20 November, Spot prices moved to $82/lb, +$3 since Friday, according to Numeco data published after hours in London.

Other data shows it could run higher into this week.

$5+ overnight moves are possible as more fuel buyers push into the market ahead of higher expected prices and physical uranium investment funds do the same.

It has been an incredible climb since the beginning of 2023 – with prices in the 50’s in July.

Now prices are moving up to $3 per day.

In data seen by this website last week, Spot was cruising into the early 80/lb mark, as nuclear fuel buyers scrambled to secure short-term supply.

It appears the uranium market is in a runway freight train-like scenario.

With global demand for uranium looking like it will continue to skyrocket, new mines are needed to meet nuclear power utilities that need to lock in long-term supply deals.

Nuclear energy, once dismissed by some environmentalists, is now front and centre of the global puzzle to solve climate change.

Nuclear energy provides reliable, long-term base load power for countries around the world. 

Leaders heading to Dubai for the COP28 Climate Change summit are now saying investments in nuclear is key to stopping runaway global warming. 

The US is leading a coalition of nations who will commit to increasing nuclear by treble. 

We are also seeing China build new nuclear power at a breakneck pace. 

India is also committing to triple nuclear power by 2031.