Owners and operators of U.S. civilian nuclear power reactors purchased a total of 51 million pounds U₃O₈e (uranium oxide equivalent) of deliveries from U.S. government, U.S. suppliers and foreign suppliers during 2007, at a weighted-average price of $32.78 per pound U₃O₈e. The 2007 total of 51 million pounds U₃O₈e decreased 23 percent compared with the 2006 total of 67 million pounds U₃O₈e.  In the previous edition of this report, 2006 Uranium Marketing Annual Report (Table 12), the maximum anticipated requirements of owners and operators of U.S. civilian nuclear power reactors for 2007 were 51 million pounds, as of year-end 2006.  The 2007 weighted-average price of $32.78 per pound U₃O₈e increased 76 percent compared with the 2006 price of $18.61 per pound U₃O₈e, as uranium prices rose significantly during 2007.  Eight percent of the 51 million pounds U₃O₈e delivered in 2007 was U.S.-origin uranium at a weighted-average price of $28.89 per pound U₃O₈e.  Foreign-origin uranium accounted for the remaining 47 million pounds (92 percent) of deliveries at a weighted-average price of $33.05 per pound U₃O₈e.  Owners and operators of U.S. civilian nuclear power reactors purchased uranium for 2007 deliveries from the U.S. government and 24 sellers, 3 more than the 21 sellers in 2006.  During 2007, 13 percent of the 51 million pounds U₃O₈e delivered in 2007 was purchased under spot contracts at a weighted-average price of $88.25 per pound U₃O₈e.  The remaining 87 percent were purchased under long-term contracts at a weighted-average price of $24.45 per pound U₃O₈e.  Spot contracts are a one-time delivery (usually) of the entire contract to occur within one year of contract execution (signed date).  Long-term contracts include those with one or more deliveries a year following contract execution (signed date) and as such may reflect some agreements of short and medium terms as well as longer term.

Uranium Purchased by Owners and Operators of U.S. Civilian Nuclear Power Reactors, 1994-2007

Owners and operators of U.S. civilian nuclear power reactors signed 24 new purchase contracts, for deliveries in 2007, with 5 million pounds U₃O₈e of uranium delivered at a weighted-average price of $96.57 per pound U₃O₈e, reflecting higher uranium prices.  There were 23 new spot contracts signed in 2007 and 1 new long-term contract with 2007 deliveries.  As of the end of 2007, the maximum uranium deliveries for 2008 through 2017 under existing purchase contracts for owners and operators of U.S. civilian nuclear power reactors totaled 230 million pounds U₃O₈e.  Also as of the end of 2007, unfilled uranium requirements (not under contract) for 2008 through 2017 totaled 264 million pounds U₃O₈e.  These contracted deliveries and unfilled requirements combined represent the maximum anticipated market requirements of 493 million pounds U₃O₈e over the ten year period.  For 2008, the maximum anticipated requirements of owners and an operator of U.S. civilian nuclear power reactors is 43 million pounds U₃O₈e.

2007 Contracted Purchases and Future Deliveries of Uranium by Owners and Operators of U.S. Civilian Nuclear Power Reactors, as of 12/31/2007

In 2007, owners and operators of U.S. civilian nuclear power reactors delivered 49 million pounds U₃O₈e of natural uranium feed to U.S. and foreign enrichers.  In addition, 14 million separative work units (SWU) were purchased under enrichment services contracts from 4 sellers in 2007, one less than the 5 sellers in 2006.  The average price paid by the owners and operators of U.S. civilian nuclear power reactors for the 14 million SWU was $114.58 per SWU, an 8 percent increase compared with the 2006 average price of $106.57 per SWU.  In 2007, U.S.-origin SWU share was 10 percent and foreign-origin SWU accounted for the remaining 90 percent.  Uranium in fuel assemblies loaded into U.S. civilian nuclear power reactors during 2007 contained 47 million pounds U₃O₈e, compared with 52 million pounds U₃O₈e loaded during 2006.

Uranium Feed Deliveries, Enrichment Services, and Uranium Loaded by Owners and Operators of U.S. Civilian Nuclear Power Reactors, 1994-2007

U.S. suppliers (brokers, converters, enrichers, fabricators, producers, and traders) and owners and operators of U.S. civilian nuclear power reactors purchase uranium each year from foreign suppliers.  Foreign purchases totaled 54 million pounds U₃O₈e in 2007, and the weighted-average price was $34.18 per pound U₃O₈e (77 percent more than the 2006 price).  Also, U.S. suppliers and owners and operators of U.S. civilian nuclear power reactors sold uranium to foreign suppliers. Foreign sales totaled 15 million pounds U₃O₈e in 2007, and the weighted-average price was $55.47 per pound U₃O₈e (69 percent higher than the 2006 price).  Year-end commercial uranium inventories represent ownership of uranium in different stages of the nuclear fuel cycle (in-process for conversion, enrichment, or fabrication) at domestic or foreign nuclear fuel facilities.  Commercial uranium inventories owned at the end of the year by owners and operators of U.S. civilian nuclear power reactors in 2007 was 81 million pounds U₃O₈e, an increase of 4 percent from year-end 2006 and 25 percent from year-end 2005. Overall, U.S. commercial inventories (including inventories owned by U.S. brokers, converters, enrichers, fabricators, producers, and traders) totaled 112 million pounds U₃O₈e as of the end of 2007.

Foreign Purchases, Foreign Sales, and Uranium Inventories by U.S. Suppliers and Owners and Operators of U.S. Civilian Nuclear Power Reactors, 1994-2007