• 4 minutes End of Sanction Waivers
  • 8 minutes Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 14 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 2 hours New German Study Shocks Electric Cars: “Considerably” Worse For Climate Than Diesel Cars, Up To 25% More CO2
  • 1 min Permafrost Melting Will Cost Us $70 Trillion
  • 2 hours UNCONFIRMED : US airstrikes target 32 oil tankers near Syria’s Deir al-Zor
  • 5 hours Russia To Start Deliveries Of S-400 To Turkey In July
  • 5 hours Occidental Offers To Buy Anadarko In $57 Billion Deal, Topping Chevron
  • 1 hour Nothing Better than Li-Ion on the Horizon
  • 5 hours Facebook Analysts Expect Earnings Will Reinforce Rebound
  • 22 hours Countries with the most oil and where they're selling it
  • 1 hour How many drilling sites are left in the Permian?
  • 9 hours ..
  • 22 hours Section 232 Uranium
  • 1 day Deep Analysis: How China Is Replacing America As Asia’s Military Titan
  • 15 hours Iran Sabre Rattles Over the Straights of Hormuz
Alt Text

Should We Rethink Nuclear Power?

Nuclear energy has received a…

Alt Text

Uzbekistan, Russia Announce Joint Nuclear Facility

Uzbekistan and Russia have struck…

Alt Text

China Aims For Nuclear Dominance

China’s revival and rise to…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

It's Official: The World's Biggest Nuclear Market Is Back

The uranium sector has been waiting a long time for this week. When one of the world's most important markets for the metal has finally come back online.

That's Japan. Where the long-awaited restart of the country's nuclear reactor fleet officially began yesterday.

Major utility Kyushu Electric Power reported that it flipped the switch on the Sendai number one power plant in southern Japan on Tuesday. With the reactor now expected to reach full power generation capacity by Friday. Related: When Will Oil Prices Turn Around?

The move is of course a small one in terms of Japan's overall nuclear capability. With over 40 other reactors around the country still sitting idle, after having been shut down in the wake of the Fukushima incident in 2011.

But the restart shows that Japan is intent on returning to nuclear power. Which could pave the way for other plants to return to service soon -- potentially beginning with the number two reactor at Sendai, which lies within the same complex as the plant that was rebooted this week.

It will be interesting to see if this psychological boost for the nuclear market provides some support for uranium prices. Which have been languishing around $35 per pound since late April. Related: Midweek Sector Update: Have We Reached A Bottom For Oil Prices?

Prior to that, announcements about potential nuclear restarts in Japan had prompted notable rallies in the uranium price. Including a rapid jump to $44 in late 2014 -- and a test of $40 this past April.

If we do see a similar rise in the price based on this week's restart, it could create a firmer floor. Potentially leading to a more-sustained rally in the metal.

That would be especially true if more Japanese reactors come online over the coming months. A scenario that is likely -- with the restart of the Sendai number two plant currently scheduled for October. Related: The Oil Price: How Low Is Low?

All of which would be welcome news for the commodities complex, given that uranium is one of the only metals holding steady in terms of price lately.

Here's to a bright spot,

Dave Forest

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News