"The industry in general is working through an oversupply situation due largely to the idling of reactors in Japan after the incident at the Fukushima plant," said Jeffrey Donald, a spokesperson for USEC, which supplies uranium to commercial nuclear plants in the U.S. and internationally.
The crisis in Japan also pushed Germany to hasten its move away from nuclear energy. Uranium now trades at about $36.50 a pound, the lowest level since January 2006. It has fallen more than 30 percent since the Fukushima disaster in March 2011.
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