The uranium bounce

The short-term price of uranium is rising and speculators are asking if better times are ahead.

Summary: The short-term uranium price is rising, sparking some interest in uranium exploration and production stocks. The price rise suggests the metal has hit the bottom and alerted speculators to the possibility that better times could be on the way. Japan is set to restart the first of its nuclear reactors and miner Toro Energy has found support. But prices are low for nuclear power’s competitors and there is no shortage of uranium for sale under long-term contracts.

Key take-out: Observers will be keen to see whether the rise in the short-term uranium price will flow into the more important long-term price, which is still too low to encourage the development of new mines.

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