Pent-up demand, supply shocks, low stocks pushed aluminum, copper and coal prices to all-time highs, but new report suggests supercycle talk is premature.
The prices of coal and oil have also risen, but it is uranium that is likely to see the greatest long-term impact from the outbreak of war in eastern Europe.
Rosatom is a delicate target because the company and its subsidiaries account for about 35% of global uranium enrichment and has agreements to ship the nuclear fuel to countries across Europe.
While the attack on Ukraine has caused a price spike in a broad array of commodities, Russia’s share of metals supply is greatest for uranium and palladium.