Uranium-01 — Post-Iran War Accelerates Uranium Stockpiling. CCJ & NXE Opportunity. Big Volatility. Risk?
2026-04-06 · paid tier- **Iran war reshaped global uranium dynamics.** Hormuz Strait conflict has alerted Asian (Japan, Korea, Taiwan, China) and European nations to **energy security risks of relying on Persian Gulf oil/gas**. Uranium is the only fuel that can be stored in physical form for years (vs months for oil/gas). **Expected demand growth: 3-4% CAGR.**
- **Massive incoming demand:** France approved 25 reactor lifespan extensions (10 years each) in March = **~250M lbs incremental uranium demand** — exceeds the world's claimed 200M lb above-ground inventory. Japan post-Fukushima dormancy is ending; restarts and new construction accelerating.
- **Supply side stuck.** At $85/lb spot price, supply response is "**surprisingly slow**" — Cameco, Kazatomprom both face restart difficulties. **Uranium fuel is only ~5% of nuclear plant operating costs**, so **price tolerance is enormous** (could double, plant economics barely change).