nuclear-news

Forecast for uranium market – still sinkng

Nuclear bearishness sinks claws into uranium price, demand forecasts Dundee Capital Markets drops its near term uranium price forecasts : Kip Keen  , 01 Nov 2012  (MINEWEB) –  With post-Fukushima anti-nuclear sentiment continuing to weigh, Dundee Capital Markets cut its near-term uranium price forecast.

“A cloud still hangs over the uranium sector as we approach the second anniversary of the Fukushima Daiichi disaster,” Dundee’s David Talbot wrote in a recent note to clients. “The impact has been felt on the spot market, with prices now dipping below post-Fukushima lows of US$49.00/lb U3O8, to a range of around $42 to $43 per pound  ).” In cutting forecasts Talbot focused heavily on dour near term demand for uranium and issues of public perception for nuclear power, particularly in developed nations following the Fukushima nuclear disaster in Japan last year. Dundee dropped its spot uranium forecast in the near term to $49 per pound from $60 a pound and its term (contract) price to $61 from $65 a pound…..
Dundee’s change in outlook came a day after Cameco, a leading uranium producer, put a damper on its long term production outlook, cutting back growth plans from 40 million pounds uranium to 36 million pounds uranium in production a year by 2018(covered in these pages by Dorothy Kosich here)..

November 2, 2012 - Posted by Christina Macpherson | 2 WORLD, business and costs, Uranium