Uranium Headed For Historic Peak
Source: BusinessReport (1/10/07)
According to BusinessReport, the price of uranium oxide is expected to climb as high as $100 a pound this year for the first time in history on the back of speculative interest in the commodity as well as strong demand from the nuclear power sector.
After falling to a multi-year low of $6.40 in the first quarter of 2000, the price of uranium rocketed elevenfold.
The last quoted price for uranium oxide was a record $72 a pound.
Adam Schatzker, a Toronto-based analyst for RBC Capital Markets, expected the price of uranium to climb to $100 a pound this year. He expected the global market for uranium to be in deficit this year and next year.