Southern Cross Equities director, Charlie Aitken, says the uranium market has factored in the worst-case scenario of a total shutdown of Japan's nuclear energy industry, even though such an outcome appears very unlikely.
He continues to forecast a uranium supply deficit from 2013 because of the end of the Russian recycling of highly enriched uranium from decommissioned nuclear warheads into reactor fuel and the aggressive nuclear expansion plans of China, India, and Russia, which are expected to account for approximately 70% of new uranium demand out to 2020.
"While Japan's nuclear plans remain large within a domestic context, even a large scale downsizing would not be expected to dramatically alter our forecast for a future global uranium supply deficit," Aitken says.
-By David Rogers, Dow Jones Newswires: 61-2-8272-4693: [email protected]
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