It is, by now, a well-known story. A steel beforehand solely traded in a sleepy nook of commodity markets turns into very important for the power transition. Constrained provide and geopolitical jockeying meet forecasts for ever-rising demand. Costs surge as traders foresee a crunch. The one wrinkle within the story is that this time the steel isn’t utilized in electrical automobiles or photo voltaic panels; it’s used within the decades-old know-how of nuclear reactors. Uranium costs are blowing up.
