Impact on Uranium From Protests in Kazakhstan and EU Changes
- By Nick Lawson
- 3 min read
As the protests in Kazakhstan escalated yesterday afternoon, uranium spot prices rose almost 10% to $46/lb – up from $42/lb that morning. Uranium equities were all up 5-10% on a potential supply disruption. Kazakhstan is home to 43% of global uranium supply. For context, Kazakhstan’s market dominance in uranium is four times that of Saudi’s dominance in oil!
On Saturday, the government announced a near-doubling of the price of liquefied petroleum gas (LPG), which many Kazakhs use to fuel their cars, as the country transitioned to electronic trading (vs. LPG prices which were previously state regulated). Protests to the drastically rising fuel prices quickly spread to many cities throughout the country, entering their fourth day today.
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