Financial Times reported uranium prices are expected to rise in the long-term as uranium demand continues in developing nations.
As quoted in the market news:
Investors have turned against the metal following the Fukushima disaster in Japan last year and the most recent decision by the government in Tokyo to gradually phase out the use of nuclear power before 2040.
The spot price for the commodity used to fuel nuclear power stations has fallen to a two-year low of $45.75 a pound. It is a far cry from 2007, when uranium rose to a record $136 on the back of concerns about oil-generated power because of a surge in crude prices.