Uranium Prices to Nearly Double by 2010
Source: Uranium Investing News, Melissa Pistilli (4/1/09)
"Long-term prices are still resting at $69.00 per pound U308."
Standard Chartered brokers believe the outlook for uranium remains positive. Supply levels are decreasing and utilities companies are looking to secure reliable sources. The Deutsche Bank is in agreement and expects prices to nearly double (US$80 per pound) by 2010.
Chinese utilities are already actively planning to stockpile uranium and China is prompting companies to build supplies and purchase foreign uranium resources, said Cao Shudong, Vice Director of the Power Department in the National Energy Administration. China is expected to raise its initial 2020 nuclear power capacity target of 40 million kilowatts by more than 75 million kilowatts, reported Bloomberg.