when did uranium become a sought after commodity
Uranium market Global demand for uranium rose steadily from the end of World War II, largely driven by nuclear weapons procurement programs. This trend lasted until the early 1980s, when changing geopolitical circumstances as well as environmental, safety, economic concerns over nuclear power plants reduced demand somewhat. The production of a series of large hydro-electric power stations has also helped to depress the global market since the early 1970s. This phenomenon can be traced back to the construction of the vast Aswan Dam in Egypt, and to a certain extent with the ambitious Three Gorges Dam in China. During this time, large uranium inventories accumulated. In fact, until 1985 the Western uranium industry was producing material much faster than nuclear power plants and military programs were consuming it. Uranium prices slid throughout the decade with few respites, leaving the price below $10 per pound for yellowcake by year-end 1989.[citation needed]