Uranium24 May 2011 12:20
'The biggest drop in prices of uranium in two years may be ending as China and India plan atomic power developments that will more than double global production even after Japan’s nuclear disaster.
The radioactive metal has slumped 8.9 percent this year, the most since 2009, after tumbling as much as 27 percent as governments reviewed nuclear plants following the Japanese crisis in March, according to prices from MF Global Holdings Inc. China and India will lead a 46 percent increase in consumption by the world’s five biggest atomic-power developers by 2020.
The metal may rise as high as $65 a pound this year and advance to $75 in 2012, Fletcher Newton, a vice president at Uranium One Inc. (UUU), a Vancouver-based mining company, said in a May 13 interview. Morgan Stanley forecast it will climb to $64 in 2011 and $65 in 2012.
“Whether we like it or not, nuclear is still an option that’s reliable, low cost and emission free,” said Amir Adnani, chief executive officer of Corpus Christi, Texas-based Uranium Energy Corp. (UEC), a mining and processing company that is stockpiling the metal in anticipation of higher prices in the second half of the year. “In the next 20 years, the world’s nuclear capacity is going to double.”
http://www.bloomberg.com/news/2011-05-22/uranium-recovery-seen-as-atomic-plans-from-china-to-india-offset-fukushima.html