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May 15, 2015 - Japan and China continued to show a strong commitment to nuclear power this week as both nations seek stable, cost-effective electricity generation. China National Nuclear Power Corp. (CNNP), the country’s second-largest nuclear plant operator, received approval from regulators to sell shares on the Shanghai Stock Exchange as the nation pushes to boost nuclear generation and cut pollution. CNNP plans to issue 3.89 billion new shares to raise more than ¥16 billion (US$2.6 billion), it said earlier. In Japan, a panel of experts endorsed a government report stating nuclear power remains the cheapest source of electricity within the country despite the rising safety costs triggered by the 2011 Fukushima accident. The government is looking to make nuclear power account for 20 to 22 percent of Japan’s electricity supply by 2030. Kazakhstan also confirmed its long-term commitment to the nuclear industry with approval of a draft agreement with the International Atomic Energy Agency on establishing a low-enriched uranium “fuel bank” in the Central Asian country. In the USA, District Court Judge Reggie B. Walton issued an order in the ConverDyn v. Moniz et al (US Secretary of Energy) ordering the plaintiff (ConverDyn) to show cause on or before June 2, why the claims set forth in the case should not be dismissed as moot. The uranium market responded to these developments with lackluster enthusiasm as spot market activity remains light. A total of six transactions are reported for the week. Price levels were relatively stable early in the week, but began to slip as the week came to a close. The most recently concluded transactions reflect prices that are at, or very near, today’s Weekly U3O8 Spot Price Indicator. Two utilities await offers for spot deliveries. A non-US utility is seeking 260,000 pounds U3O8 for delivery this year. A US utility has indicated it would consider offers for delivery of spot material as part of its recent long-term Request for Proposals (RFP). TradeTech’s Weekly U3O8 Spot Price Indicator is $35.65 per pound U3O8, a decrease of $0.35 from last week’s indicator and down $0.10 from the May 14 Daily U3O8 Spot Price.  read more