2233 GMT - Uranium buyers could accelerate efforts to rebuild their stockpiles over the next few months, Jefferies says. Future sanctions on Russian supply could stoke demand for the nuclear fuel, along with heightened uncertainty over tariffs and imports. "U.S. confirmation that uranium and energy minerals are excluded from tariffs has restored some confidence and liquidity to the spot market, easing the wait-and-see stance of nuclear utilities," says Daniel Roden. However, Washington's ongoing Section 232 investigation into critical minerals imports, notably for uranium, is feeding uncertainty over medium-term policy and procurement, Jefferies says. It's unclear whether U.S. allies such as Australia and Canada can fill any supply gap or "if 232 tariffs prompt domestic sourcing," Jefferies says. The bank stays bullish on Australian producer Boss Energy. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
May 19, 2025 18:33 ET (22:33 GMT)
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