TOKYO (Commodity Online): Uranium losses it shines after the nuclear accident at Fukushima, Japan in March 2011. The spot price has come down below $50.
According to a study by Resource Capital Research, the market price would further slash for 3 to 6 months with a spot price expectation of $45.95/lb.
The Hathor Exploration, which was subjected to unfriendly takeover by industry bellwether Cameco, has managed to get into in positive territory but the sector as a whole has lost more than 40% its value.
Canada’s Cameco (TSE:CCO), the world’s number one uranium producer, was trading low down at 1.8%, after opening close to 3% lower in Toronto on Tuesday.
The uranium producers expecting to get back their glory as the strong and increasing demand for new nuclear power reactors, especially from China, USA, Russia, Ukraine and India.
There are almost 84 new nuclear power reactors are expected to be commissioned globally by 2017 and 63 currently under development or construction.
The stock study of the world’s largest uranium mines and explorers shows losses of 43.9% compared to a decline in the S&P 500 of 9.3% since March11
