It seems China is now controlling the global uranium prices. According to reports, Chinese power utilities are stockpiling enriched uranium as the country launched a massive expansion of nuclear power projects.
Cameco Corp, the world s second-largest uranium producer, said power utilities in China are continuing to stockpile uranium, making them the market s single largest group of buyers.
Utilities in China have bought an estimated eight million pounds of uranium, the raw material in the nuclear-reactor fuel, from the spot market this year.
China has 13 reactors under construction. The stockpiling is for a very specific reason and that is to feed those reactors under construction. Uranium purchase by Chinese utilities this year confirms that the world s most populous country is becoming a more significant force in nuclear-fuel markets.
Analysts said there s no question the Chinese will become more active buyers as they increase their installed nuclear capacity.
Chinese activity in uranium spot markets was minimal last year. China, which has about 8,587MW of nuclear-power capacity, is actively building enough new reactors to boost capacity by 15,360MW.
The level of nuclear development activity in China is astonishing. About 33 million pounds of uranium has changed hands in the global spot market so far this year.
Reports said that China is single-handedly lifti8ng the uranium prices because of these purchase.
Cameco Corp, the world s second-largest uranium producer, said power utilities in China are continuing to stockpile uranium, making them the market s single largest group of buyers.
Utilities in China have bought an estimated eight million pounds of uranium, the raw material in the nuclear-reactor fuel, from the spot market this year.
China has 13 reactors under construction. The stockpiling is for a very specific reason and that is to feed those reactors under construction. Uranium purchase by Chinese utilities this year confirms that the world s most populous country is becoming a more significant force in nuclear-fuel markets.
Analysts said there s no question the Chinese will become more active buyers as they increase their installed nuclear capacity.
Chinese activity in uranium spot markets was minimal last year. China, which has about 8,587MW of nuclear-power capacity, is actively building enough new reactors to boost capacity by 15,360MW.
The level of nuclear development activity in China is astonishing. About 33 million pounds of uranium has changed hands in the global spot market so far this year.
Reports said that China is single-handedly lifti8ng the uranium prices because of these purchase.
