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Jul 18, 2014 - The spot uranium market was quiet this week with only three transactions reported. Buyers in all three transactions were non-end users. However, the uranium market did receive some positive news this week as Japanese authorities declared that two reactors meet new standards put in place after the 2011 Fukushima disaster and are safe enough to be restarted, paving the way for the revival of the country’s atomic energy industry. The Nuclear Regulation Authority, in a 418-page report released on July 16, gave Kyushu Electric Power Co. preliminary approval to restart its Sendai plant, which will still require local approvals before the units begin operating. In addition, new demand emerged this week in the spot uranium market. After sitting on the sidelines for several weeks, a few utilities finally ventured back into the spot market this week. One of these, a US utility, issued a formal request seeking offers for up to 500,000 pounds U3O8 or uranium contained in UF6 for delivery in September of this year; offers are due to the utility no later than August 18. TradeTech’s Weekly U3O8 Spot Price Indicator remains at $28.30 per pound U3O8, unchanged from the July 17 Daily U3O8 Spot Price Indicator and unchanged from last week’s value. Meanwhile, US-based convertor ConverDyn and the US Department of Energy (DOE) continue to battle over transfers of DOE inventory. This week, Babcock and Wilcox (B&W) was granted permission to file an amicus brief in the case. The court ordered that B&W must file its response to the amicus brief by July 21, and that the response brief not exceed 15 pages. read more