Uranium prices are showing little sign of recovery after sinking to their lowest levels in more than seven years amid a glut of the radioactive metal and speculation Japan will delay restarting its reactors.

Prices may average $42.82 a pound (.45 kg) this year, according to Morgan Stanley, while Bank of America Corp. is predicting $43.80.

BMO Capital Markets, which cut its price estimate by 10 percent in July, forecasts $43 a pound. Uranium has averaged $40.94 so far in 2013 after sliding to $34.50 in July, the lowest price since November 2005.