Uranium Price Set for Two-Year Recovery

Source:

"Right now, demand is ticking up a fair amount on the spot market driven by speculators," said Gene Clarke, CEO of TradeTech. "The utilities are waiting and I think they will pile in when the price gets up, when they see it moving up three to four weeks in a row. "It may be a signal this is as low as it is going to get for now and they may go in and buy", he said.

The price of uranium has disappointed investors this year with only the last few weeks offering hope of a recovery. The good news, however, is that the recovery trend is set to continue until 2010, said US-based uranium research company. TradeTech.

By July 7, the uranium price had risen for two consecutive weeks and was at $60/lb. Gene Clarke CEO of TradeTech, which publishes a weekly uranium price, sees it up again next week.

"Right now, demand is ticking up a fair amount on the spot market driven by speculators," said Clarke. "The utilities are waiting and I think they will pile in when the price gets up, when they see it moving up three to four weeks in a row. "It may be a signal this is as low as it is going to get for now and they may go in and buy", he said.

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