Uranium Spot Price Falls

Source:

British analysts expect uranium prices may rise, fuelled by the increasing numbers of planned and proposed nuclear reactors. Since January 2007, the global plans for new nuclear power plants have risen 37 per cent, up by 82 to 304, with China leading the charge. The Asian tiger plans to build 114 new nuclear reactors, up from projections of 63 last January, a whopping jump of 81 per cent.

The spot price of uranium fell for the first time in nearly a month on Sunday. Industry indicator TradeTech posted a $10-drop to US$75 per pound U3O8, a small decline compared to the $38-drop during August's price adjustment that sent speculators fleeing from the market...

British analysts expect uranium prices may rise, fuelled by the increasing numbers of planned and proposed nuclear reactors. Since January 2007, the global plans for new nuclear power plants have risen 37 per cent, up by 82 to 304, with China leading the charge. The Asian tiger plans to build 114 new nuclear reactors, up from projections of 63 last January, a whopping jump of 81 per cent.

The United States is now planning 32, compared to the 23 it proposed in January; a 39-per cent rise. Just last week, NRG Energy Inc, the second-largest power producer in Texas, filed the first application to build a nuclear reactor in the United States since 1979's Three Mile Island meltdown in Pennsylvania...

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