Uranium prices could be facing a psychologically-driven correction after the earthquake in Japan on Monday, according to Eugen Weinberg at Commerzbank.

“The earthquake in north-westernJapan damaged one of the world’s largest nuclear power stations, Kashiwazaki-Kariwa, causing radioactive water to leak from the reactor. In view of the unparalleled uranium boom of recent years, investors should brace themselves for a possible correction, as accidents in this field seriously undermine confidence in nuclear energy and can thus also affect prices,” he says.