China's imports of enriched uranium from Russia have reached an unprecedented peak.
In May this year, China set a new record with total imports amounting to $233 million.
This import trend shows a clear cyclical pattern rather than a stable continuous growth mode.
Looking back at last year, China imported a total of $418 million worth of enriched uranium from Russia.
It is expected that this year's import volume will increase significantly, possibly even doubling last year's.
As a major producer of enriched uranium globally, Russia holds a market share of 42%, dominating the global market for low-enriched uranium nuclear fuel.
This dominant market position enables Russia to stably supply the global nuclear power market, especially in regions like Asia, including China.
Meanwhile, the United States, as another major consumer of enriched uranium, imports a substantial amount from Russia annually, holding a quarter of the market share.
The demand in the United States is mainly concentrated in its large group of nuclear power plants, which have a continuous demand for stable enriched uranium supply.
Earlier this year, China purchased uranium and other radioactive elements, isotopes, and compounds from Russia totaling $233 million.
This figure marks the highest level since 2015.
From April to May, this import volume surged from $70 million to $233 million, a growth of 3.4 times.
In just the first five months of this year, Beijing bought uranium and other elements worth a total of $311 million from Moscow.
This import growth not only reflects the expansion and modernization of China's nuclear power industry but also demonstrates China's high priority in ensuring energy security.
With the continuous growth of the Chinese economy, the demand for energy is also rapidly increasing, especially for clean energy, driving up the demand for nuclear power and its fuel.
From a global perspective, the market outlook for enriched uranium remains full of challenges and opportunities.
Although China and the United States are the main consumer countries, other emerging markets such as India, Brazil, and the United Arab Emirates are gradually increasing their reliance on nuclear energy, providing more export opportunities and market expansion space for major producers like Russia.
China's growing import of enriched uranium from Russia not only reflects the recovery and expansion of the global nuclear energy market but also highlights China's firm determination and accelerated demand in the development of clean energy.
Over time, this trend is expected to continue, with Russia as a major supplier of enriched uranium continuing to play a crucial role in the global nuclear energy market.
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