Uranium Surges to Six-Year High as Fund Buys Up Physical Supply

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The buying is in addition to already bullish fundamentals. Uranium prices must rise further to spur the restart of production to meet uncovered utility demand after 2023, according to analysts at Raymond James Financial Inc. Earlier this year, NAC Kazatomprom JSC, the world’s top miner of uranium, said it would keep its output at reduced levels through 2023, removing supply from the market.