Per Jander: How the Uranium Market Really Works & Why It’s Still Bullish

WMC's Per Jander buys physical uranium for the Sprott Trust. In this interview with Trey Reik, he explains how the uranium market actually works from the inside: the fuel cycle, who's buying, where it's stored, and why the supply and demand story is the most obvious in commodities but the slowest to play out. Per breaks down how term contracts carry a built-in floor and ceiling, why France, Japan, China, and India are all accelerating their nuclear programs at once, and what happened behind the scenes when Sprott's January buying spree briefly pushed spot prices above $100. He also explains why even a doubling in uranium prices wouldn't cause demand destruction.