Uranium has been stuck in a bear market since 2007, being one of the only commodities yet to recover. This can largely be attributed to Japan’s Fukushima nuclear disaster in 2011, when the Fukushima Daiichi nuclear power plant was hit hard by an earthquake and subsequent tsunami which caused the plant to experience three nuclear meltdowns, hydrogen-air explosions, and the release of radioactive material into flood and groundwater. The disaster revived fears of the environmental risks of nuclear power, the primary use of uranium, just as the commodity was back to trading north of $70. The floor fell out from under uranium as it slid to a decade low of $17.4 per lb in November 2016, down 87% from its December 2007 high of $140.3 per lb. However, things could be turning around for the yellow metal as stockpiles are draining and new capacity may finally begin to strain supply . . .

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