April 20 (Bloomberg) -- Uranium advanced for the first time in almost six months after Energy Resources of Australia Ltd. reported a first-quarter output decline and trading increased.
Uranium-oxide concentrate for immediate delivery rose 2.5 percent, or $1, to $41.50 a pound, Denver-based pricing service TradeTech LLC said in a report April 17. Four transactions last week boosted April's trading to more than 4.3 million pounds, compared with 2.2 million pounds in the first three months.
"If things are cheaper, you buy more," said Glyn Lawcock, head of resources research with UBS AG in Sydney. "The price has been under a lot of pressure. Now, there's renewed demand in all commodities and we're seeing active talks" on building nuclear reactors in countries including Taiwan and the U.K., he said.