Uranium rises to 2-year high

Uranium rose to the highest in more than two years after China Guangdong Nuclear Power Co agreed on long-term supply with the two largest producers, and on expectations Asia's biggest economy will boost its reactor-building targets.

Uranium-oxide concentrate rose 10 cents to $60 a pound on the market for immediate delivery, Denver-based pricing service TradeTech LLC said in a report dated Nov 26.

Two sales totaling less than 500,000 pounds took place last week as volumes slid due to the US Thanksgiving holiday, TradeTech said.

Source:China Daily