The uranium price has continued its upward trajectory this week, climbing to 85.67 USD. This represents a solid 2.19% gain over the last seven days and extends the year-to-date performance to a 5.09% increase. After a period of consolidation, the market is witnessing renewed momentum driven by the converging forces of a widening supply deficit and escalating energy demands from the technology sector.

Market Drivers for the Uranium Price

The primary catalyst behind the recent movement is the intensifying focus on nuclear energy as a critical solution for powering artificial intelligence (AI) infrastructure. As data centers expand globally, tech giants are increasingly seeking reliable, carbon-free baseload power, prompting a reassessment of long-term demand. Recent reports indicate that major utilities are accelerating their contracting cycles to secure fuel inventory, anticipating a squeeze as new reactors come online in Asia and dormant facilities restart in Japan.

On the supply side, geopolitical friction continues to tighten the market. Persistent restrictions on Russian nuclear fuel imports have forced Western utilities to pivot toward alternative suppliers, creating bottlenecks in conversion and enrichment services. Additionally, recent activity from physical funds—most notably a reported purchase of 100,000 pounds of yellowcake by Sprott—has removed spot inventory, adding immediate upward pressure to the uranium price.

Technical Outlook

Technically, uranium has firmly established support above the psychological $80 level. The breakout above $85 signals bullish sentiment, with analysts eyeing the $90 mark as the next key resistance zone. The 30-day movement of 8.27% suggests that buyers are stepping in aggressively on dips, reinforcing a strong uptrend. If the price can sustain a close above $86, it may open the door for a retest of the cyclical highs seen in previous years. However, investors should remain attentive to upcoming production reports from major miners like Kazatomprom and Cameco, which could introduce short-term volatility.

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The Lithium Price surged to a fresh two-year high today, closing at 170,999.81 CNY per tonne. This marks a significant 7.55% gain over the last seven days and extends a powerful year-to-date rally of 44.38%. After a prolonged period of consolidation, the battery metal has broken critical resistance levels, driven by a convergence of aggressive policy shifts in China and renewed supply constraints.

Market Drivers for the Lithium Price Rally

The primary catalyst for this week’s 7.55% move is the sudden tightening of supply in China’s Jiangxi province. Authorities have canceled 27 mining permits in the hub as part of an environmental "anti-involution" campaign, effectively removing significant feedstock from the market. This supply shock coincided with Beijing’s announcement that export tax rebates for battery products will be cut from 9% to 6% starting in April. This policy shift has triggered a massive "front-running" effect, with manufacturers rushing to secure raw materials and export finished goods before the deadline.

Adding fuel to the fire, industry giant CATL reportedly placed a massive $17.2 billion order for cathode materials earlier this week. This demand signal has forced downstream players to cover spot positions aggressively, exacerbating the squeeze created by the Jiangxi permit cancellations.

Technical Outlook

Technically, the Lithium Price has staged a decisive breakout above the psychological 170,000 CNY level. The 30-day movement of 71.86% suggests the market is in a steep markup phase, fueled by short covering and panic buying. Momentum indicators are currently in overbought territory, but the fundamental supply deficits suggest support remains strong at the 155,000 CNY breakout zone. If the rally sustains, the next key resistance target lies near 200,000 CNY, a level not seen since the market began its correction two years ago.

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The Lithium price continued its explosive start to 2026, surging to 170,999.81 CNY per tonne on Friday. The battery metal has posted a remarkable 7.55% gain over the last seven days alone, extending a massive 71.86% rally over the past month. Year-to-date, lithium prices are up 44.38%, marking a definitive reversal from the surpluses that plagued the market in previous years.

Market Drivers

Two primary factors are fueling the current rally: a surge in utility-scale energy storage demand and sudden supply constraints in China’s mining hubs.

• Energy Storage Demand Spike: While EV sales remain steady, the demand for lithium iron phosphate (LFP) batteries in energy storage systems (ESS) has outperformed expectations. Analysts forecast a 55% growth in ESS installations for 2026, driven by Beijing’s mandate to double EV charging capacity and grid storage infrastructure by 2027.
• Jiangxi Supply Crunch: On the supply side, Chinese authorities recently canceled 27 mining permits in the lithium hub of Jiangxi as part of an environmental crackdown. This follows the suspension of operations at CATL’s Jianxiawo mine, effectively removing significant monthly tonnage from the market just as downstream battery makers rush to restock ahead of reduced export rebates.

Technical Outlook

Technically, the Lithium price has decisively broken through the psychological resistance level of 150,000 CNY. The steep vertical ascent suggests intense buying pressure, likely exacerbated by short covering from traders who were positioned for a surplus. With the price now firmly establishing support above 160,000 CNY, market participants are eyeing the 200,000 CNY level as the next major target. However, the Relative Strength Index (RSI) indicates the metal is in overbought territory, suggesting potential volatility in the short term as the market digests these rapid gains.

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