The world of uranium is a different beast. Much of the price discovery is from long-term supply contracts and relatively little material is traded in the spot market. There is a futures market but it is not very active. Keeping all this in mind as the price of uranium has been going up.
In this chart from www.investing.com, we can see that the price of uranium has been going up since early 2017. It has not been a smooth advance but it has been going up.
I have not been able to find a decent supply/demand balance sheet looking at supplies from mine production and usage in reactors, etc. but we can see a three-year advance in price.
The biggest miner of uranium appears to be Kazatomprom. In this chart, below, we can see that prices have been rising since late March/early April.
The second biggest uranium miner is Cameco Corp. (CCJ) and its charts are looking more positive.
In this weekly bar chart of CCJ, below, we went back five years to show how important a breakout over $13 is and that it is not far away. Prices are above the rising 40-week moving average line.
The weekly OBV line has already broken out on the upside and is likely leading the price action.
Rio Tinto ( RIO) is supposedly the third largest producer of yellow cake and other materials and metals. These charts of RIO are pointing to higher prices.