§ Mr. Skeetasked the Secretary of State for Energy what has been (a) the average annual price of uranium over the past decade and (b) the annual consumption of the oxide on a global basis.
§ Mr. John Moore(a) The bulk of uranium consumed by utilities in the World Outside Communist Areas is purchased under long-term supply contracts. Prices vary widely between contracts and are influenced by the timing, size and nature of the contractual commitments involved. The prices paid under these contracts are usually regarded as commercially confidential.
Prices for spot or near-term sales of uranium are more widely available. The following table lists annual averages of monthly prices in the spot market as estimated by the US firm NUEXCO:
Year NUEXCO exchange value* $ per Lb U3 O8 1972 6.0 1973 6.4 1974 11.0 1975 23.7 1976 39.7 1977 42.2 1978 43.2 1979 42.6 1980 31.8 1981 24.2 * The exchange value is NUEXCO's judgment of the price at which transactions for significant quantities of natural uranium concentrates could be concluded as of the last day of the month. (b) At the beginning of the period annual consumption of uranium in the World Outside Communist Areas is estimated to have been about 17,000 tonnes and it has increased progressively to about 30,000 tonnes in 1981.