Justin Huhn: Uranium Supply, Demand and "Hugely Important" Price Tell
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After a weak summer for uranium prices, Uranium Insider's Justin Huhn shared the reasons he expects the energy fuel to move higher this fall.
Uranium values have spent much of the last six months contracting after a strong start to the year.
Justin Huhn, founder and publisher of Uranium Insider, spoke with the Investing News Network in early October about what's depressed prices in 2024 and where the energy fuel is likely to go in the months ahead.
“I've been following this market for about seven, pushing eight years,” he said. "At this point, I've seen a lot of volatility, some screaming rallies, some extremely difficult-to-handle pullbacks and terrible sentiment on multiple occasions."
The topsy-turvy nature of the sector has weighed on investors, with sentiment taking a hit mid-year.
"I would argue that the sentiment in the sector was worse than I've ever seen it this summer, which is extraordinary."
Although prices have slipped around 20 percent since January's highs, they had stabilized by early October.
The uranium insider expects prices for the commodity to start moving higher this month.
“The US utilities have a new budget with the beginning of the fiscal year," he explained.
Adding to that positive sentiment, Huhn noted that the long-term outlook for uranium and nuclear power demand is very positive, driven by factors like growth in data center electricity demand, support from major banks and tech companies and policy initiatives from the US Department of Energy.
Watch the interview above for Huhn's full overview of the uranium market and his expectations for uranium stocks.
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Interview by Charlotte McLeod. Article by Georgia Williams.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
