After 31 Percent Surge, Uranium Is Top-performing Commodity in 2020 Year-to-Date

Uranium futures contracts traded in New York rose some 36 percent since mid-March to US$32.50 (R$163) per pound.

RIO DE JANEIRO, BRAZIL - While the coronavirus is slaughtering the prices of most commodities, uranium has skyrocketed.

The radioactive metal used as nuclear fuel soared by 31 percent this year, making it the best performing commodity in the world. The gains were spurred by mine shutdowns that wiped out more than a third of global annual production, at a time when demand from the plants remained relatively stable.

"It's a double push in favor of uranium," said Nick Piquard, portfolio manager at Horizons ETFs. "Covid-19 probably hasn't affected demand for nuclear power as much, but it's . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?