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Uranium suppliers forced to cut production due to lack of demand via Enformable Nuclear News

Uranium prices are being dramatically affected by the shutdown of nuclear reactors in the wake of the Fukushima Daiichi nuclear disaster as supply overwhelms demand.

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The unexpected drought has also led uranium mines in Australia and Africa to close down due to unprofitability.

According to UBS the marginal cost of production of uranium is $35 per pound.  On May 14th, 2014, uranium prices dropped to $28.40 USD a pound, the lowest since June 2005.

Average Price of Uranium Per Pound

2014 $33.93
2013 $38.47
2012 $48.90
2011 $66.50
2010 $46.27
2007 $135

 

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