In September, uranium appreciated 33%, according to the financial information platform Trading Economics. In the year, the ore has already accumulated a high of 42.62% and is being traded for about US$ 40 a pound. The main reason is the increased demand for nuclear energy, especially in China.
With the rise, the asset has drawn the attention of investors. But Transfero had already pointed out this trend in June last year, during the webinar Alternative Assets: From Uranium to Digital Assets.
At the time, Transfero’s CEO, Thiago Cesar, spoke about BRZ and showed how stablecoin simplifies Brazilian investors’ access to international assets – today, it is not possible to make direct investments in uranium on the Brazilian Stock Exchange.
“Brazilians have difficulty exposure to some alternative assets, even foreign fiat currencies, such as the Canadian dollar and the Swiss franc, among others. That’s where BRZ comes in, which facilitates this access”, he explained, mentioning that tokenization is a way to access markets that were previously unavailable.
Higher demand contributes to uranium rise
In the webinar, participants pointed to the uranium uptrend, where supply decreases as it is a scarce metal and demand increases.
Today, this trend is becoming particularly more pronounced as China needs to reduce its carbon emissions to comply with global climate agreements. Thus, the country is turning to nuclear energy as an alternative to coal. There are already 38 nuclear power plants in operation and 19 more under construction, which indicates that demand will continue to rise.
In addition to Chinese plants, another reason for the uranium rise is Canada’s Sprott Physical Uranium Trust (UUT), which began buying physical uranium in April this year and has traded shares on the Toronto Stock Exchange since July.