Uranium spot prices rose 2.4 percent last week as buyers looked beyond the impact of the Fukushima nuclear crisis, Ux Consulting Co. said.
Uranium-oxide concentrate for immediate delivery sold for $54 a pound (0.45 kg) in the seven days ended Monday, compared with $52.75 the previous week, Ux said in an emailed report Tuesday. That is based on the most competitive offer tracked by the U.S. company.
“The industry believes that the case for nuclear energy is still strong, given that many countries are still moving forward with their nuclear energy plans,” Ux said.
The spot price for the nuclear fuel has dropped 19 percent since the week before the March 11 earthquake and tsunami damaged Tokyo Electric Power Co.’s Fukushima No. 1 power station, triggering the worst atomic disaster since Chernobyl in 1986 and prompting some nations to put their nuclear power plans on hold.
The biggest declines may be over, with prices rallying 10 percent since Aug. 29.
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