HK Stock Market Move | CGN MINING (01164) rises over 6%; long-term trade prices confirm robust industry demand, uranium supply-demand structure remains tight.

CGN MINING (01164) rose over 6%, up 6.05% as of press time, at HK$2.19, with a turnover of HK$88.2412 million. On the news front, long-term trade prices have continued to hit new highs, confirming rising industry demand sentiment. Since August, the UxC natural uranium long-term trade price has continued to climb to US$96.5/lb, up US$1.0/lb month-on-month. Huaxi stated that on the supply side, the release of new global uranium mining capacity remains rigid, with capital expenditure and geological exploration cycles lasting several years, severely limiting the industry's marginal supply elasticity. On the demand side, the trading center and premium in the long-term contract market have continued to widen, while downstream utilities and tech giants have continuously strengthened their rigid demand for locked-in volumes. After the World Nuclear Association's annual symposium in London, expectations for a global long-term supply-demand gap further intensified, with some leading producers' newly signed long-term contract prices reaching a center of US$120/lb; at the same time, major tech companies in North America and Europe are accelerating their binding of nuclear power capacity to meet the massive demand from AI data centers for zero-carbon, stable baseload power.