Nuclear fuel differs from commodities like gas or coal because it requires precision-engineered assemblies that conform to licensing requirements set by safety regulators.

Russia's February invasion of Ukraine has triggered turmoil in commodity markets.

While allocations appear to be above historical averages on commodities, they are not very overweight, according to strategists led by Nikolaos Panigirtzoglou.

EU envoys are set to approve on Thursday a ban on Russian coal that would take full effect from mid-August, a month later than initially planned.

Gold should remain strong despite the Fed raising rates, RJO Futures analyst said.

Analysts say the stock is being weighed down by a checkered operational track record compared with its rivals.

With expectations that China will stabilise its economy and stimulate the real estate sector, iron ore demand is seen to be rising, analysts with Huatai Futures wrote in a note.