Financial Post reported that Uranium business continues to struggle since the Fukushima nuclear facility crisis in March 2011. The spot price of Uranium has taken a dip to nearly US$40 per pound, from its US$135 per pound price in 2007.
As quoted in the market news:
“More than 21 months after Fukushima, the uranium business is still stuck in a rut. Uranium’s spot price has plummeted to nearly US$40 a pound (compared to a high topping US$135 in 2007), and there has been minimal activity in the spot market. Utilities are well-supplied with uranium for the foreseeable future, and, thanks to Fukushima, the outlook for demand growth is not nearly as healthy as it was a couple of years ago.
“The recovery in Japan has been slower than we expected,” Tim Gitzel, chief executive of Cameco Corp., acknowledged in an interview.”