The price of uranium fuel, triuranium octoxide, has fallen two-thirds since 2010 and now stands at $25 a pound, the Wall Street Journal reported.
It was as high as $136 as recently as nine years ago.
“The obvious reasons are the shutdown of nuclear power plants after the 2011 nuclear accident at Fukushima, Japan,” the Journal reported.
“Plants also shut down in Germany, Sweden, and elsewhere, while Belgium and Taiwan may be next. Even China, the leading growth market for nukes, enacted a delay in plant approvals. Meanwhile, the fracking revolution made some planned and existing U.S. plants uneconomical.”
China is building one-third of the 66 nuclear reactors under construction, the Journal reported.