Uranium Outlook Brighter in 2010

Despite uranium’s lackluster performance over the last few years, 2010 holds promise as utilities and buyers from Asia, where nuclear power programs are on the rise, are expected to come back into the market creating much needed demand.

Uranium price movements stalled in 2009 averaging about $46 per pound and spot currently sits at $44.50 according to industry consultants Tradetech and Ux Consulting.

“The psychological effect of decreasing prices led many utilities to relax purchasing plans and turn away attractive offers in the expectation of further price declines,” said TradeTech President Treva Klingbiel. “While 2009 was a relatively active year for term contracting, a substantial number of utilities, particularly in the USA, continue to wait in hopes of catching the market at the absolute bottom before securing supplies for the longer term.”

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