铀是“下一个黄金”？高盛：供应短缺率将扩大至32%，到明年底至少20%上涨空间

Core Viewpoint - Goldman Sachs predicts that uranium prices will soar in the coming years, potentially becoming "the next gold," driven by a significant structural supply shortage [1] Group 1: Price Predictions - By the end of 2026, spot uranium prices are expected to rise to around $91 per pound, representing at least a 20% increase from the current price of approximately $76 [1] - Long-term contract prices have increased from $80 to $86 per pound since August, indicating upward price pressure in both spot and long-term markets [2] Group 2: Supply and Demand Dynamics - A projected cumulative supply deficit of approximately 13% from 2025 to 2035 is expected to expand to 32% from 2025 to 2045, primarily due to accelerated new reactor construction and extended lifespans of existing reactors [3] - The updated model indicates an increase in the cumulative supply-demand gap from 1.703 billion pounds to 1.914 billion pounds for the 2025-2045 period [3] Group 3: Global Nuclear Development - Key demand changes are driven by new capacity plans in countries like Russia and the U.S., with Russia planning to double its nuclear power capacity [4] - The U.S. is expected to see significant growth in reactor construction, with plans for 20 new reactors and additional projects resuming, leading to increased uranium demand [5]