Uranium Price May Gain on China Demand, Energy Resources Says

Bloomberg.com reports on uranium supply, demand and uranium spot price.

“The supply-demand fundamentals point to the likelihood of stronger prices in the longer term,” Energy Resources said today in a statement. “Despite the challenging economic climate, global demand for uranium is still expected to grow significantly in the next decade.”

Although the economic crisis has temporarily slowed plans for additional nuclear plants in the U.S. and Europe, a number of new units are still expected to begin construction and come into operation toward the end of this decade,” Energy Resources said. “Fifty-five new units are currently under construction around the world, 20 of which are located in China, with over 100 more planned over the next decade.”

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