[Federal Register Volume 60, Number 194 (Friday, October 6, 1995)]
[Notices]
[Page 52368]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-24925]
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DEPARTMENT OF COMMERCE
[A-834-802, A-835-802, A-844-802]
Notice of Price Determination; Uranium From Kazakhstan,
Kyrgyzstan, and Uzbekistan
AGENCY: International Trade Administration, Import Administration,
Commerce.
ACTION: Notice of Price Dermination; Uranium from Kazakhstan,
Kyrgyzstan, and Uzbekistan.
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SUMMARY: Pursuant to section IV.C.1. of the antidumping suspension
agreements on uranium from Kazakhstan, Kyrgyzstan, and Uzbekistan, the
Department calculated a price for uranium of $12.25/lb. On the basis of
this price, the export quota for uranium pursuant to Section IV.A. of
the Uzbek and Kyrgyz agreements is zero. The export quota for uranium
pursuant to Section IV.A. of the Kazakhstani agreement, as amended on
March 27, 1995, is 500,000 lbs. for the period October 1, 1995, through
March 31, 1996. Exports pursuant to other provisions of the agreements
are not affected by this price.
EFFECTIVE DATE: October 2, 1995.
FOR FURTHER INFORMATION CONTACT: James Doyle or Daniel Miller, Office
of Agreements Compliance, Import Administration, International Trade
Administration, U.S. Department of Commerce, 14th Street & Constitution
Ave., NW, Washington, DC 20230; telephone: (202) 482-0172 or (202) 482-
1102, respectively.
Price Calculation
Background
Section IV.C.1. of each agreement specifies that the Department of
Commerce (DOC) will issue its observed market price on October 1, 1995,
and use it to determine the quota applicable to exports from the
various republics during the period October 1, 1995 to March 31, 1996.
Consistent with the Department's letters of interpretation dated
February 22, 1993, we provided interested parties our preliminary price
determination on September 15, 1995.
Calculation Summary
Section IV.C.1. of each agreement specifies how the components of
the market price are reached. In order to determine the spot market
price, the Department utilized the monthly average of the Uranium Price
Information System Spot Price Indicator (UPIS SPI) and the weekly
average of the Uranium Exchange Spot Price (Ux Spot). In order to
determine the long-term market price, the Department utilized the
weighted average long-term price as determined by the Department on the
basis of information provided by market participants and a simple
average of the UPIS Base Price for the months in which there were new
contracts reported.
Our letters to market participants provided a contract summary
sheet and directions requesting the submitter to report his/her best
estimate of the future price of merchandise to be delivered in
accordance with the contract delivery schedules (in U.S. dollars per
pound U3O8 equivalent). Using the information reported in the
proprietary summary sheets, the Department calculated the present value
of the prices reported for any future deliveries assuming an annual
inflation rate of 2.65 percent, which was derived from a rolling
average of the annual GNP Implicit Price Deflator index from the past
four years. The Department used the base quantities reported on the
summary sheet for the purpose of weight-averaging the prices of the
long-term contracts submitted by market participants. We then
calculated a simple average of the UPIS Base Price and the long-term
price determined by the Department.
Weighting
The Department used the average spot and long-term volumes of U.S.
utility and domestic supplier purchases, as reported by the Energy
Information Administration (EIA), to weight the spot and long-term
components of the observed price. In this instance, we have used
purchase data from the period 1989-1992, as in the previous
determination. During this period, the spot market accounted for 31.39
percent of total purchases, and the long-term market for 68.61 percent.
We were not able to include data from the 1993 and 1994 EIA Uranium
Industry Annuals because it has been withheld due to its proprietary
nature.
Calculation Announcement
The Department determined, using the methodology and information
described above, that the observed market price is $12.25. This
reflects an average spot market price of $11.60, weighted at 31.39
percent, and an average long-term contract price of $12.54, weighted at
68.61 percent. Since this price is below the $13.00/lb. minimum
expressed in Appendix A of the Uzbek and Kyrgyz agreements, there will
be no quota under Section IV.A. of the agreements available to these
republics for the period October 1, 1995 to March 31, 1996. However,
since this price is above the $12.00/lb. minimum expressed in Appendix
A of the amended Kazakhstani agreement, Kazakhstan receives a quota of
500,000 lbs. for the period October 1, 1995 to March 31, 1996. We have
determined that the observed market price for uranium is $12.25/lb. The
Department invites parties to provide pricing information for use in
the next price determination. Any such information should be provided
for the record and should be submitted to the Department by March 5,
1996.
Dated: October 2, 1995.
Joseph A. Spetrini,
Deputy Assistant Secretary for Compliance.
[FR Doc. 95-24925 Filed 10-5-95; 8:45 am]
BILLING CODE 3510-DS-P
