NEW YORK, NY, Jul 21, 2011 (MARKETWIRE via COMTEX)
After a sluggish four months following the disaster at Japan's Fukushima nuclear plant, uranium stocks are finally recovering. Research indicates that any price weakness in the uranium market should be short-lived, as nuclear energy demand continues to grow.
Ritter Group and market analysts' claim that China, India and South Korea are maintaining their nuclear build plans while Saudi Arabia, the United Arab Emirates, Turkey and Vietnam have all announced new nuclear plans. Ritter Group says that it sees uranium demand growing by an average of 4% per year through 2014.
The State-run newspaper, China Daily, says that China could resume the approval process for new nuclear power projects by mid-2012. China is building 28 reactors, roughly 40 percent of the global total under construction, as the central government boosted approvals in the past two years.
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