[Federal Register Volume 60, Number 66 (Thursday, April 6, 1995)]
[Notices]
[Page 17515]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-8510]
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DEPARTMENT OF COMMERCE
[A-100-002]
Notice of Price Determination, Uranium from Kazakhstan,
Kyrgyzstan, and Uzbekistan
AGENCY: International Trade Administration, Import Administration,
Commerce.
ACTION: Notice.
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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 $12.06/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 April 1, through
September 30, 1995. Exports pursuant to other provisions of the
agreements are not affected by this price.
EFFECTIVE DATE: April 1, 1995.
FOR FURTHER INFORMATION CONTACT:
Maureen Price or Beth Chalecki, Office of Agreements Compliance, Import
Administration, International Trade Administration, U.S. Department of
Commerce, 14th Street & Constitution Avenue NW., Washington, DC 20230;
telephone: (202) 482-0159 or (202) 482-2312, 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 April 1, 1995,
and use it to determine the quota applicable to exports from the
various republics during the period April 1, 1995 to September 30,
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 longer-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 EIA Uranium Industry
Annual 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 $12.06. This
reflects an average spot market price of $9.57, weighted at 31.39
percent, and an average long-term contract price of $13.19, 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 April 1, 1995 to September 30, 1995. 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 April 1, 1995 to September 30, 1995.
Comments
Consistent with the Department's letters of interpretation dated
February 22, 1993, we provided interested parties our preliminary price
determination on March 10, 1994. We received no comments.
We have determined that the observed market price for uranium is
$12.06/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 September 5, 1995.
Dated: March 30, 1995.
Paul L. Joffe,
Deputy Assistant Secretary for Import Administration.
[FR Doc. 95-8510 Filed 4-5-95; 8:45 am]
BILLING CODE 3510-DS-M
