Price NewsI bolded the important part.
https://finance.ninemsn.com.au/newscolumnists/greg/8805277/japanese-reactor-restarts-pending
The good news is utilities are back in the market buying uranium in 2014 after sitting back on their inventories in 2013 as prices wallowed. The bad news is they are in no great rush to secure large volumes, although declining supply commitments do prompt some necessity.
Last week saw six transactions completed in the spot market totalling 650,000lbs of U3O8 equivalent, industry consultant TradeTech reports. This takes year to date volumes to 5.5mlbs compared to 6.4mlbs at the same point last year, but well above the 2.6mlbs traded in a very uncertain 2012.
As has been the case in the past, delivery location preference is currently fracturing the market and impacting on pricing. Prices bid for European delivery exceed those offered for US delivery. This fracture has conspired to keep TradeTech's spot price indicator contained, and it registered a US15c fall to US$35.50/lb last week.
News from Japan is that the country's regulator is close to ruling on safety standards at one or more idled reactors, which would clear the way for the first post-Fukushima restart. The regulator is expected to narrow the list of potentials from six undergoing safety checks within two to three weeks. Safety inspections were originally intended to be completed by end-March but this target will not be met. There are seventeen reactors under review for a possible restart by year-end.
Shinzo Abe's government will reportedly weave nuclear power into its mid-term energy policy, TradeTech notes, citing it as an important baseload energy source. The new plan is expected to be approved at a cabinet meeting next month.
Two transactions were conducted in the mid-term market last week, Trade Tech reports, and further offers are sought for term delivery by US and non-US utilities. TradeTech's term price indicators remain unchanged at US$38.50/lb (mid) and US$50.00/lb (long).