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Low Enriched Uranium from France Low Enriched Uranium From France Investigation No. 731-TA-909 (Second Review) Publication 4436 December 2013 U.S. International Trade Commission Washington, DC 20436 U.S. International Trade Commission COMMISSIONERS Irving A. Williamson, Chairman Shara L. Aranoff Dean A. Pinkert David S. Johanson Meredith M. Broadbent F. Scott Kieff Robert B. Koopman Director, Office of Operations Staff assigned Christopher Cassise, Senior Investigator Cynthia Foreso, Industry Analyst Aimee Larsen, Economist Justin Jee, Accountant Mara Alexander, Statistician Carolyn Holmes, Assistant Statistician Karl von Schriltz, Attorney Jim McClure, Supervisory Investigator Address all communications to Secretary to the Commission United States International Trade Commission Washington, DC 20436 U.S. International Trade Commission Washington, DC 20436 www.usitc.gov Low Enriched Uranium From France Investigation No. 731-TA-909 (Second Review) Publication 4436 December 2013 CONTENTS Page Determination ......................................................................................................................... 1 Views of the Commission ........................................................................................................ 3 Dissenting views of Commissioner Meredith M. Broadbent .................................................. 47 Part I: Introduction ................................................................................................................ I‐1 Background ................................................................................................................................ I‐1 The original investigations ..................................................................................................... I‐1 The Eurodif litigation ............................................................................................................. I‐2 Commerce revocation of countervailing duty orders ........................................................... I‐3 Subsequent five‐year reviews ............................................................................................... I‐4 Related investigations ............................................................................................................... I‐4 Summary data ........................................................................................................................... I‐5 Statutory criteria and organization of the report ..................................................................... I‐5 Statutory criteria ................................................................................................................... I‐5 Organization of report ........................................................................................................... I‐7 Commerce’s reviews ................................................................................................................. I‐8 Administrative reviews .......................................................................................................... I‐8 Changed circumstances reviews ........................................................................................... I‐8 Scope inquiry reviews ............................................................................................................ I‐8 Five‐year reviews ................................................................................................................... I‐8 The subject merchandise .......................................................................................................... I‐9 Commerce’s scope ................................................................................................................ I‐9 Tariff treatment ................................................................................................................... I‐10 The product ............................................................................................................................. I‐10 Physical characteristics and uses ......................................................................................... I‐10 Domestic like product issues ................................................................................................... I‐19 U.S. market participants .......................................................................................................... I‐20 U.S. producers ..................................................................................................................... I‐20 U.S. importers ...................................................................................................................... I‐21 i CONTENTS Page U.S. purchasers .................................................................................................................... I‐22 Apparent U.S. consumption .................................................................................................... I‐22 U.S. market shares .................................................................................................................. I‐23 Part II: Conditions of competition in the U.S. market ............................................................ II‐1 U.S. market characteristics ....................................................................................................... II‐1 Channels of distribution ........................................................................................................... II‐2 Geographic distribution ........................................................................................................... II‐3 Supply and demand considerations ......................................................................................... II‐3 U.S. supply ............................................................................................................................ II‐3 U.S. demand ......................................................................................................................... II‐8 Demand outside the United States .................................................................................... II‐13 Substitutability issues ............................................................................................................. II‐13 Lead times .......................................................................................................................... II‐14 Knowledge of country sources ........................................................................................... II‐14 Factors affecting purchasing decisions............................................................................... II‐15 Comparisons of domestic LEUs, subject imports, and nonsubject imports ....................... II‐18 Comparison of U.S.‐produced and imported LEU .............................................................. II‐19 Elasticity estimates ................................................................................................................. II‐21 U.S. supply elasticity ........................................................................................................... II‐21 U.S. demand elasticity ........................................................................................................ II‐21 Substitution elasticity ......................................................................................................... II‐22 Part III: Condition of the U.S. industry ................................................................................. III‐1 Overview ................................................................................................................................. III‐1 Developments in the industry ............................................................................................. III‐1 U.S. production, capacity, and capacity utilization ................................................................. III‐9 Preservation of USEC’s LEU production for reasons of national security ........................... III‐9 U.S. producers’ U.S. shipments and exports ......................................................................... III‐10 U.S. producers’ inventories ................................................................................................... III‐11 ii CONTENTS Page U.S. producers’ imports and purchases ................................................................................ III‐11 The U.S.‐Russia HEU Agreement (“Megatons to Megawatts Program”) .......................... III‐12 The Russian Suspension Agreement ................................................................................. III‐13 The U.S.‐Russia transitional supply contract ..................................................................... III‐14 U.S. employment, wages, and productivity .......................................................................... III‐14 Financial experience of U.S. producers ................................................................................. III‐16 Background ........................................................................................................................ III‐16 Combined operations on U.S. and Russian‐produced LEU ............................................... III‐16 Operations on U.S.‐produced LEU ..................................................................................... III‐18 Operations on Russian‐produced LEU ..............................................................................
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