Understanding the Market | CGN MINING rises over 7% as the U.S. seeks to expand its strategic uranium reserves; institutions predict a potential upward correction in uranium prices
CGN MINING rose over 7%, as of the time of writing, up 7.55% to HKD 2.85, with a trading volume of HKD 134 million. According to reports from Caixin, on Monday local time, U.S. Secretary of Energy Chris Wright stated that the U.S. should consider expanding its strategic uranium reserves to reduce dependence on Russian supplies and enhance confidence in the long-term prospects of nuclear power. Zhejiang Securities' research report pointed out that the global trend of nuclear power recovery has not changed, and the tightening supply-demand pattern in the natural uranium market has not eased, with spot uranium prices expected to further recover upwards, and a breakout upward is imminent. The firm believes that the company, as a professional uranium resource development and operation platform under the CGN Group, is expected to continuously enrich its resource map in line with the group's increasing nuclear power installed capacity, achieving growth in both volume and price during this round of natural uranium upcycle
According to Zhitong Finance APP, CGN Mining (01164) rose over 7%, up 7.55% as of the time of writing, priced at HKD 2.85, with a transaction volume of HKD 134 million.
On the news front, according to Caixin, U.S. Energy Secretary Chris Wright stated on Monday local time that the U.S. should consider expanding its strategic uranium reserves to reduce dependence on Russian supplies and enhance confidence in the long-term prospects of nuclear power. Zhejiang Securities' research report pointed out that the overall trend of global nuclear power recovery has not changed, and the tightening supply-demand pattern in the natural uranium market has not eased, with spot uranium prices expected to further recover upwards, and a breakout upward is imminent. The firm believes that as a professional uranium resource development and operation platform under the CGN Group, the company is expected to continuously enrich its resource map in line with the group's nuclear power installed capacity increase, achieving both volume and price growth during this round of natural uranium upcycle, and sustaining growth
