• 1 day Retail On Pace For Most Bankruptcies And Store Closures Ever In One Year: BDO
  • 10 minutes America Could Go Fully Electric Right Now
  • 3 days Majors Oil COs diversify into Renewables ? What synergies forget have with Solar Panels and Wind Tirbines ? None !
  • 5 hours GAME CHANGER: MIT Startup Commonwealth Fusion says Commercial Product by early 2030s ! THIS CHANGES EVERYTHING..
  • 24 mins Clean Energy Is Canceling Gas Plants
  • 47 mins Rethinking election outcomes for oil.
  • 1 day America's Frontline Doctors - Safely Start Living Again!
  • 54 mins The Leslie Stahl/60 Minutes Interview with President Trump
  • 5 hours OP article : "Trump blasts Biden Fracking Plan . . . "
  • 7 hours Biden denies fracking ban
  • 3 hours Australia’s Commodities Heartland Set for Major Hydrogen Plant
  • 1 day Is the coal industry on the way out?
  • 2 days "COVID Kills Another Oil Rally" by Tom Kool 10/16/2020
  • 2 days Conoco Pledges ‘Net-Zero’ Emissions in Break With U.S. Rivals
The Biggest Obstacle For Nuclear Energy

The Biggest Obstacle For Nuclear Energy

Nuclear energy is often touted…

The World’s Growing Nuclear Waste Dilemma

The World’s Growing Nuclear Waste Dilemma

Though nuclear energy offers a…

The Battle Between Renewables And Nuclear Is Heating Up

The Battle Between Renewables And Nuclear Is Heating Up

Nuclear power is frequently touted…

Dave Forest

Dave Forest

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

More Info

Premium Content

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





Leave a comment

Leave a comment




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