Uranium prices are soaring. Investors should be careful
The metal has a history of meltdowns
It is, by now, a familiar story. A metal previously only traded in a sleepy corner of commodity markets becomes vital for the energy transition. Constrained supply and geopolitical jockeying meet forecasts for ever-rising demand. Prices surge as investors foresee a crunch. The only wrinkle in the story is that this time the metal is not used in electric vehicles or solar panels; it is used in the decades-old technology of nuclear reactors. Uranium prices are blowing up.
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This article appeared in the Finance & economics section of the print edition under the headline “A history of meltdowns”
Finance & economics March 2nd 2024
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From the March 2nd 2024 edition
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Should investors just give up on stocks outside America?
No, but it is getting a lot harder to keep the faith