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This Hated Commodity Could Make Huge Gains in 2018
The forecast showed an additional 20 million pounds of uranium production for 2018… with no buyers. As you can imagine, the price of uranium fell.
It reached its lowest price in October 2016 at $18.75 per pound. This touched a 13-year low.
The downtrend began in 2011. The price of uranium peaked at $72.50 per pound in January 2011. It has fallen steadily since then, falling a total of 74%.
This is a shocking result for an energy source that many embraced as a “green” salvation from hydrocarbons just a few years ago. Nuclear power creates safe and carbon-free energy.
The problem is that it can cause major disasters. This is what we discovered when the Fukushima disaster struck Japan.
The destruction of nuclear energy
An earthquake and tsunami damaged the Fukushima Daiichi nuclear power plant in March 2011. The earthquake damaged a reactor. The tsunami then flooded the area, destroying vital backup generators.
Without backup power, cooling water could not enter the plant. This caused a runaway reaction, a meltdown – the greatest fear of all nuclear power plant operators.
A series of human errors added to the damage. The operator, Tokyo Electric Power Company, was completely unprepared for the situation.
The result killed the nuclear power industry.
Fukushima turned the world against nuclear power. Germany shut down all its reactors in response. The demand for uranium fell and the price of uranium fell.
That eventually led to major uranium producer Cameco Corp. to cut production in early November 2017. The company’s profits fell and fell. It struggled to maintain profitability. Finally, it announced it would suspend operations at the main McArthur River mine for 10 months.
Cameco’s decision reduced the backlog to just 5 million pounds… and then the unthinkable happened: The world’s largest uranium producer followed suit. Kazakhstan’s state-run uranium miner, Kazatomprom, cut production by 20% over the next three years.
The result could be a massive uranium market.
The price of uranium and a windfall for uranium producers
Shares of Uranium Participation Corp., which holds physical uranium for investment, rose in response. Shares are up 30% in just a month and a half.
Shares of uranium companies also rose. However, this is only the beginning. Analysts covering the uranium sector believe these cuts could add $30 per pound to the uranium price. This is more than double the current spot price.
For uranium producers, this will be a windfall. Companies like Cameco and Ur-Energy Inc. will see higher revenues and profits.
This appears to be big news for the uranium sector. It’s a story we’ll continue to watch in 2018.
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