Media - In the Market
Update for the public provided three days after publication.
Apr 11, 2014 - Japan’s government approved the country’s highly anticipated new energy policy today. The new Basic Energy Plan describes nuclear energy as an important component of the country’s energy mix and calls for restart of the country’s reactors, but cites safety considerations as a top priority in the restart and continued operation of commercial reactors. Meanwhile, tensions continue to mount between the USA and Russia over the situation in Ukraine, prompting several US utilities to consider potential purchases in the event sanctions are enacted that would affect the nuclear fuel market. In spite of these developments, the spot uranium price continues to slide. At least one seller, prompted by cash needs, has been actively seeking buyers. While some utilities are contemplating entry into the market due to possible concerns over supply disruptions as a result of potential sanctions by the US government against Russia, very few buyers are yet willing to commit to purchases. Five transactions are reported for the week. As a result, sellers lowered offer prices over the course of the week in hopes of closing transactions. TradeTech’s Weekly U3O8 Spot Price Indicator is down $0.50 to $33.25 per pound U3O8--its lowest level since November 2005. read more