Uranium is traded in a narrow range

The uranium price in July remained around 1 pound = 85 dollars, and while the market continued to determine the seriousness of supply risks, it was traded in a narrow range from the beginning of June.

The U.S. Department of Energy made a bid for low-enriched uranium in order to measure production capacity pressure throughout the supply chain in response to a ban on imports of Russian nuclear fuel.

Russia supplies about half of America's nuclear fuel, and several European power companies have already voluntarily shunned Russian uranium.

Meanwhile, Kazakhstan, which is the world's top uranium producer, announced a surprising mineral extraction tax on uranium products, which could be further raised in 2026, suppressing projects and investments for uranium mining, and spurring global supply pressure.

On the demand side, 20 countries, starting with the United States, have announced plans to triple nuclear power generation by 2050.

China is currently constructing 22 of the world's 58 nuclear reactors and is leading the nuclear power market.