Weekly Reports | Apr 30 2019
President Trump may not need all of the 90 days he has to make a decision on section 232 but there is no guarantee of a timeframe.
-Uncertainty still reigns
-Japan to close reactors
-India to build new ones
By Greg Peel
Uranium market watchers are undoubtedly tired of section 232 but unfortunately uncertainty still hangs like a spectre over the market. The bottom line, after the US Department of Commerce delivered its recommendations on April 14 after using most of the allotted 270 days to get there, is that President Trump has up to 90 days to make a decision.
The good news is the similar 232 decisions with regard steel and aluminium, which led to tariffs, took the president only 46 and 58 days respectively to decide upon. The bad news is an auto import decision is still being awaited after 68 days, and an investigation into titanium is now also underway. So things are starting to back up.
Activity in the uranium spot market was off to a slow start last week following Easter, industry consultant TradeTech reports, but by midweek sellers had begun to lower prices in order to attract buyers. The spot price had remained unchanged the week before. Lower prices did lead to an increase in transaction volume.