Uranium Surges to Highest Since Fukushima on Russian War
- Buyers snap up uranium as U.S. weighs sanctions on Rosatom
- Sprott Physical Trust also actively buying spot supply
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Uranium spot prices soared to the highest level since the 2011 Fukushima nuclear disaster on concern potential sanctions aimed at Russia are poised to roil an already tight market.
The price for benchmark Ux U3O8 uranium jumped to $59.75 per pound on Thursday, according to data compiled by UxC LLC. That’s the highest since March 2011, when meltdowns at the Fukushima Dai-Ichi facility shut Japan’s fleet of nuclear plants, sent a shock-wave across the atomic industry and dashed demand for uranium -- the fuel used in reactors.