Uranium One 3% Higher in Steady Volume; Gains Supported by Expectations of Future Demand

By Midnight Trader,  January 31, 2011, 11:14:46 AM EDT

Uranium One Inc. (UUU.TO) shares are up nearly 3% today, extending the stock's rally into a third day.

One apparent factor behind the rally was a mid-week forecast last week by Ux Consulting predicting a four-fold jump in uranium consumption by the Chinese over the next few years to an annual rate of 50 mln to 60 mln pounds getting used in China. Ux also notes the rapid run-up in nuclear plant construction in China, with up to 10 new facilities coming on line each year over the next decade.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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