Japan Essentials - 22 May 2026

Research evidence excerpt

Japan Essentials - 22 May 2026

anium contract prices could surge to $120 per pound, up 034020 KS Doosan Enerbility 45.0 Jaeseo Lee OP

from the current mid-$90s spot price: This spike is likely to be driven by 000720 KS Hyundai E&C 10.3 James Hong OP

DYL AU Deep Yellow 1.1 Mark Wiseman OP

the push to incentivise and finance new mine construction. Higher prices

BMN AU Bannerman Energy 0.5 Mark Wiseman OP

are driven by a looming global supply deficit, worsened by the projected

depletion of Kazakhstan's mines from 2032 onward.

Source: FactSet, Macquarie Research, May 2026. Prices

• Tangible supply-chain orders distinguish real developers from dreamers: as of 20 May 2026.

The Trump administration has been targeting 10 new AP1000 starts

by 2030. To identify viable US nuclear projects, investors would need to Related research:

look beyond memorandums of understanding. Tracking concrete actions Nuclear energy in the wake of Iran: Fifteen years after

such as early site investigations, fully funded engineering studies and the Fukushima, energy security trumps perceived risk, 10

Mar 2026

placement of long-lead supply chain orders, noting that components like

Bannerman Energy (BMN AU) - Macquarie Australia steam generators require five to six years for delivery. Conference 2026: Key takeaways, 7 May 2026

• ASEAN accelerates utility-scale and modular nuclear deployment: Fermi (FRMI US) - Fermi 2.0 sets the clock on

Southeast Asia is advancing rapidly, led by Vietnam’s agreements with execution, 15 May 2026

Rosatom and possible agreements with KPNC for nearly 5 gigawatts of Nuclear into 2026: Criticality achieved, 1 Dec 2025

capacity. Simultaneously, nations including Singapore, Indonesia, and ASEAN Conference 2025 - Southeast Asia's nuclear