China is buying unprecedented amounts of uranium, signaling that prices are poised to rebound after three years of declines.
The nation may purchase about 5,000 metric tons this year, more than twice as much as it consumes, building stockpiles for new reactors, according to Thomas Neff, a physicist and uranium- industry analyst at the Massachusetts Institute of Technology in Cambridge. Prices will jump by about 32 percent next year, the most since 2006, RBC Capital Markets said.
XX Sean’s note: We’ve heard “sunny-side-up” forecasts on uranium before. However, this time, the Canadian fund that holds physical uranium is showing signs of improvement …
This certainly bears watching. In the meantime, you may want to read the whole article on uranium from Bloomberg.
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