By Dave Brown — Exclusive to Uranium Investing NewsThe World Energy Council (WEC) released a report documenting the state of the nuclear industry and its 93 participant nations on the one year anniversary of the Fukushima tragedy. The content is intended to provide leaders around the world with a fact-based, high-level analysis and review of the current status and potential future for the nuclear industry. For uranium investors and industry stakeholders, the Fukushima accident has not led to any significant retraction in nuclear energy programs in countries other than Japan, Germany, Switzerland, and Italy. While advancement and development in some countries' programs have been delayed, there does not appear to be an indication that global pursuit of nuclear power has declined considerably in response to Fukushima.
Duncan Hawthorne, President and CEO of Bruce Power, explained his current bullish outlook for the nuclear power industry, commenting that “China is very active. Russians are very active. [They are] selling domestically and using that as a means of expanding their reach.” The WEC report notes that “[n]uclear energy will play a full part in the future energy mix provided nuclear safety and at the same time transparency are continuously being reinforced. This will strengthen public acceptance, in particular through the setting up and maintenance of efficient governance of nuclear safety that is internationally credible.” Uranium spot market prices The uranium spot market price as reported by TradeTech declined slightly this week to $51 per pound, a drop of 1.6 percent from the previous week's value. Reduced demand combined with a motivated seller with an aggressively-priced offer were the catalysts for the change. Trading volumes for the week were relatively low, with traders, producers, and financial entities acting as participants. Uranium for delivery in Europe is still being offered at prices slightly above the price for uranium available for delivery in North America; however, the separation between the two has condensed.