Uranium prices fall on news of Japan's nuclear delays

The rally in uranium prices has faltered in recent months as signs have mounted that Japan is likely to keep most of its reactors offline this year, Bloomberg reports.

The nuclear fuel had been at a three year low before rallying, gaining 12 percent in the six weeks before Japan’s national election in mid-December. Optimism surrounding the victory of pro-nuclear Liberal Democratic Party leader Shinzo Abe has tempered as it seems unlikely Japanese regulators will allow any more plants to restart in 2013. Uranium prices have fallen 6.8 percent to $42.40 a pound since the elections.

The news is a disappointment for uranium exporting countries like Australia and Namibia, but a welcome development for gas exporters like Qatar, who have largely fueled Japan’s power sector while the country’s nuclear sector has been almost entirely offline since Fukushima.

Subscribe to Nuclear Power International magazine

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...