China stockpiling about 24000 tons of Uranium each year at current low prices

China stockpiled about 24000 tons of extra uranium purchased at the price of about $35 per pound. This was above the 6300 tons that China needed to run their current nuclear reactors. Total 2013 uranium imports into China reached $2.39 billion.

Canada, the world’s second largest natural uranium producer, commenced shipping natural uranium to China in 2012.

“In the future, the Athabasca Basin [in Saskatchewan, Canada] will be the biggest source of uranium for the whole world,” stated Uranium Guru Thomas Drolet in a recent interview with Financial Press.

China will have higher uranium demands in coming years as more nuclear reactors are completed.

Uranium prices are expected to rebound after Japan restarts most of their nuclear reactors and China completes more nuclear reactors.

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