全球核电拐点已至,长期需求高增,铀价景气上行。1)需求端:受全球降碳、能源安全、人工智能发展、小型模块化核电机组(SMR)技术驱动,全球核电重回增长通道,2025-2030 年年均新增装机容量或达13GW,对应仅初装料天然铀需求合计约3.12 万吨;若三倍核能宣言兑现,2024-2050 年全球核电装机规模CAGR 将达到4.2%,其中中国在运和核准在建核电机组装机规模2024 年已升至世界第一,...
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