Jocelyn Aspa reports that uranium is currently seeing rock-bottom prices, but some analysts project the price could double back up by 2018. Uranium prices are currently sitting at $28 per pound, a $0.25 decrease from last week. However, prices are expected to double back up come 2018.
Among those predicting the uranium price will pick back up is David Wang, an analyst with Morningstar, who has been predicting this rise for months. He expects the uranium price to reach $65 a pound by 2019. Another prediction comes from Haywood Securites, the firm expects the period between 2017-2020 to be a landmark period for the nuclear industry and uranium stocks as the global operating nuclear reactor fleet expands.
Since the Fukushima disaster in 2011, uranium prices have no doubt been affected, and the FocusEconomics - June report states it could be years before the market fully recovers. Japan has been able to recover since the disaster by bringing some of its reactors back online, with four of them already restarting operations. Meanwhile, the world is building more nuclear reactors than ever before.
So, while uranium prices still have some time to go before they are where they should be, there are certainly some who are carrying a positive outlook for the industry, for some time now.
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