Given the price the Chinese are prepared to pay for uranium projects, it gives you an idea of where they know prices will be based on their demand, after all, they will be the drivers of incremental delta in the market moving forward.
Nuclear fuel prices only represent 2-4% of a nuclear plants prices, so the market is not sensitive to high prices, it does not cannibalise itself, so in many mays, when supply and demand transition from oversupply/backlog (Japan) to chasing supply, the prices will be volatile, in the US$70 - $100 range. I am normally wary of future price forecasts for most commodities that are more than double the current price, but Uranium appears justified.
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