Uranium spot prices, which weakened later than the Fukushima reactor crisis in Japan, fell 1.9 percent in the past week through the Northern Hemisphere’s summer holiday season, Ux Consulting Co. said.Uranium-oxide concentrate for direct delivery traded at $50.50 a pound in the seven days through yesterday compared with $51.50 the earlier week, Ux said in an e-mailed report today that’s based on the most competitive present tracked by the Roswell, Georgia-based company.
The spot price for the nuclear fuel has declined 24 percent given that the week before a March 11 earthquake and tsunami spoiled Tokyo Electric Power Co.’s Fukushima Dai-Ichi power station the crisis prompted a few nations to put their atomic power plans on hold china halted approval of new plants and Germany said it will shut additional than 25 percent of its nuclear capacity.
“The spot uranium market continue to edge down on price-sensitive demand,” Ux said. “August is the height of the vacation season, giving buyers yet a new reason to stay away from a market that has been languishing this summer since the implication of the Fukushima accident have set in.”
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