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Uranium looms as big winner among resources under Trump via the Financial Times

Donald Trump’s upcoming presidency has led many investors to size up oil, coal and gold trades that could benefit from the sweeping changes he has promised.

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But a growing band of specialist commodity traders think investors may be overlooking the one raw material in line for bigger price gains than others when the US president-elect takes office: uranium. While interest in the key fuel for nuclear power and weapons may strike investors as somewhat macabre, a six-year downturn in the uranium market has convinced some that any indication of stronger demand could drive prices significantly higher. Mr Trump has voiced support for nuclear energy and has indicated he could expand the US’s nuclear arsenal, threatening to reverse a decades-long push towards non-proliferation and arms reduction. “Uranium traders have lots of oil envy,” says Roy Adams, who set up and ran uranium trading desks at Deutsche Bank and Lehman Brothers. “We think uranium — not crude oil — is unquestionably the most geopolitically sensitive commodity in the world.”

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The uranium market has been in a state of near collapse since 2011 when the Fukushima disaster upended demand projections for the fuel as Japan and other countries such as Germany shuttered operations or cancelled new projects.

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