‘Uranium Prices Poised for a Comeback After Dropping from $74/lb to $51/lb’

Commodity Online reported on the increase in uranium prices in the last week.

The market news is quoted as saying:

The Energy Report: Edward, let’s quickly sum up 2011 for uranium. Spot prices for yellowcake have fallen from a high of around $74 a pound (lb.) in January to around $51/lb. now. Most of the decline can be attributed to the tsunami in Japan that caused radiation leaks at several reactors there. After the Japanese problems, chatter started about substituting thorium for uranium in nuclear reactors. Then negative long-term policy decisions started trickling in from Japan, Germany, Italy and Switzerland. Your long-term uranium price of $60/lb. makes you sound less-than-bullish on the sector. What, if anything, is going to pick up the uranium sector, dust if off and send it upward again?

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