Uranium Surges 31% Amid Shutdowns to Become Year’s Top Commodity

(Bloomberg) — ​​​​​​While most commodities are getting hammered by the coronavirus crisis, uranium prices are skyrocketing.The radioactive metal used in nuclear fuel has climbed 31% this year, making it the world’s best-performing major commodity. The gains have been spurred by mine shutdowns that have wiped out more than a third of annual global output at a time when demand from power plants has remained relatively stable.“This is a bit of a one-two punch in uranium’s favor,” said Nick Piquard, a portfolio manager at Horizons ETFs. “Not only has Covid-19 likely not impacted nuclear power demand very much, but it is …read more

Source:: Yahoo Finance

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