Uranium Breaks US$100: Why This Move Looks Structural Not Speculative

Uranium pushing through US$100 a pound is more than a psychological milestone. It marks a shift in how the market is being cleared and who is doing the clearing.

The immediate catalyst was fresh buying from Sprott Physical Uranium Trust, which added 500,000 pounds of uranium this week after raising US$214 million in new equity. That leaves the fund with roughly US$323 million of dry powder and signals intent: Sprott isn’t trading the price move, it’s absorbing supply.

This matters because uranium is not a liquid commodity. Spot volumes are thin, inventories are opaque. . .