Uranium has become one of the mainly sought after metals in 2010 and it might continue to be so in the upcoming year also. According to market analyst, require from India and China will keep uranium prices up in 2011 also. Both these nations have chalked out big plans to place up latest nuclear power plants to meet their power demands. This will help uranium prices to go up in the upcoming year also. Uranium prices have rise about 20 percent since October because of a restricted supply of the nuclear fuel being available to utilities, manufacturer and traders on the spot market.
Uranium oxide concentrate for instant release reached $62.50 a pound this week. Meanwhile, the Uranium Stocks Index is high on Thursday, up 1.6%, adding to a six month presentation that has seen the Index double, and there could be more benefit to come for uranium stocks in 2011. Supply and demand matter have helped drive spot uranium prices as tall as $62.50 in recent weeks, but prices could rush more next year. China’s entry into the uranium market is the means to drive prices top. The country just announced a deal with Cameco (CCJ), the major US-listed uranium miner by market value.
Uranium oxide concentrate for instant release reached $62.50 a pound this week. Meanwhile, the Uranium Stocks Index is high on Thursday, up 1.6%, adding to a six month presentation that has seen the Index double, and there could be more benefit to come for uranium stocks in 2011. Supply and demand matter have helped drive spot uranium prices as tall as $62.50 in recent weeks, but prices could rush more next year. China’s entry into the uranium market is the means to drive prices top. The country just announced a deal with Cameco (CCJ), the major US-listed uranium miner by market value.
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