[Federal Register Volume 59, Number 67 (Thursday, April 7, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-8382]
[[Page Unknown]]
[Federal Register: April 7, 1994]
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DEPARTMENT OF COMMERCE
[A-100-002]
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 an observed market price for uranium of $11.37/
lb. On the basis of this price, the export quota from uranium pursuant
to Section IV.A. of each of the agreements is zero. Exports pursuant to
other provisions of the agreements are not affected by this price.
EFFECTIVE DATE: April 1, 1994.
FOR FURTHER INFORMATION CONTACT:
Melissa Skinner 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.
Price Calculation
Background
Section IV.C.1. of each agreement specifies that the Department
will issue the DOC observed market price on April 1, 1994, and use it
to determine the quota applicable to imports from the various republics
during the period April 1, 1994 to September 30, 1994.
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 4.2 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
As in previous price determinations, 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. However, with the publication of EIA's 1992 Uranium
Industry Annual, we have used purchase data from the period of 1989-
1992, rather than 1988-1991. During this period, the spot market
accounted for 31.39 percent of total purchases, and the long-term
market for 68.61 percent.
Calculation Announcement
The Department determined, using the methodology and information
described above, that the observed market price is $11.37. This
reflects an average spot market price of $9.91, weighted at 31.39
percent, and an average long-term contract price of $12.04, weighted at
68.61 percent. Since this price is below the $13.00/lb. minimum
expressed in Appendix A of the agreements, there will be no quota under
Section IV.A. of the agreements available to any signatory republic for
the period April 1, 1994 to September 30, 1994.
Comments
Consistent with the Department's letters of interpretation dated
February 22, 1993, we provide interested parties our preliminary price
determination on March 10, 1994. We received no comments.
Allowing for additional information received since March 10, we
have determined that the observed market price for uranium is $11.37/
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 by September 5, 1994.
Dated: April 1, 1994.
Paul L. Joffe,
Deputy Assistant Secretary for Import Administration.
[FR Doc. 94-8382 Filed 4-6-94; 8:45 am]
BILLING CODE 3510-DS-M