Uranium spot and long-term prices hit record highs; nuclear equities diverge lower

Uranium prices have reached all-time records, with long-term at $96/lb and spot near $90/lb, surpassing the 2007 peak. Despite this, nuclear-related equities are sliding, indicating a disconnect between fuel prices and market sentiment. The divergence suggests investors are pricing in slower reactor buildout or are focused on other factors, while the fuel market tightness persists.