Uranium companies surge even as spot prices sink

|By:, SA News Editor

USEC (USU +40.2%) and uranium peers are surging again, but industry fundamentals tell a different story, TD Securities says, as Japan's restart process could be "a lot more protracted" than originally thought.

In recent years, the uranium spot price (URA) found support whenever it fell to $40/lb. but prices have plunged 14% in two months to $34.50, lowest since 2006.

URRE +30.6%, URZ +12.6%, but industry leader CCJ -3%.