Worst Commodity of ’16 Seen Rallying as Uranium Mines Cut: ChartBy
Oversupply has pushed uranium futures down 18 percent this year, among the biggest losses of 80 commodities tracked by Bloomberg. That’s set to reverse, as diminishing mine output and improving demand erode stockpiles, Uranium Energy Corp. Chief Executive Officer Amir Adnani said in an interview. As the market for the nuclear fuel rebounds, prices will more than double to $65 a pound over the next three years, according to David Wang, an analyst at Morningstar Inc.
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