Media - In the Market
Update for the public provided three days after publication.
Oct 17, 2014 - Attention turned again this week to Japan as debate over Kyushu Electric’s Sendai plant escalates and another delay looms in the process to restart the countries’ reactors, idled since the Fukushima accident in March 2011. As the focus shifts to townships located near the Sendai plant, local politicians say approval is unlikely until December. The debate over restarts pits host communities that receive direct benefits from siting reactors against other nearby communities that do not reap the benefits and say they will be equally exposed to radioactive releases in the event of an accident. A further sign of increasing pressure felt by companies throughout the nuclear fuel industry was the ousting by French President Francois Hollande of the pro-nuclear boss of Electricité de France (EDF) this week and replacing him with the head of defense electronics firm Thales, a day after a new pro-renewable energy policy became law. Outgoing EDF Chairman and CEO Henri Proglio had been seeking to renew a contract that expires next month. This week, the government enacted a new energy bill aimed at reducing French dependence on nuclear power from 75% to 50%. The nuclear fuel market was quiet in the midst of these developments. Five transactions are reported for the week. The spot uranium price was stable throughout the week, showing little movement in response to the buying and selling interest that did emerge. Traders and financial entities continue to be the primary buyers, although some end-user demand is expected to emerge in coming weeks. Prices reported in transactions concluded this week continue to reflect a range of prices depending upon a variety of factors, including delivery locations, material form, and timing, with transactions involving European delivery and later delivery commanding slightly higher prices than deals calling for immediate and/or North American delivery. TradeTech’s Weekly U3O8 Spot Price Indicator remains at $35.50 per pound U3O8, unchanged from last week’s value and unchanged from the October 16 Daily U3O8 Spot Price Indicator. read more