Spot uranium seen sliding, recovering in long term

Reuters reports on uranium spot price is expected to slide in the midst of the turmoil in Japan but would recover long term.

The market news is quoted as saying:

The longer-term outlook for uranium may be less negative, however, since many countries such as China are expected to press ahead with nuclear energy as a carbon-free alternative to meet commitments about global warming.

“Definitely the spot market is illiquid, and this kind of thing is going to be clearly bearish,” said analyst Max Layton at Macquarie Equities in London. “Highly likely it’s going to be substantially down.”

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