A fuel assembly comprising fuel rods each provided with fuel pellet in a fuel cladding tube, a channel box receiving a plurality of pieces of the fuel rods, a spacer for partitioning the fuel rods received in the channel box, and upper and lower grids located respectively at the upper and lower portions of the channel box, characterized in that said channel box is made of a zirconium based alloy containing not more than 5 wt % Sn and/or not more than 5 wt % Nb, and not less than 90 wt % Zr, said alloy having crystal orientation of a hexagonal Zr in which <0001>
- orientation (Fl value) with respect to longitudinal direction of said alloy ranges from 0.20 to 0.35, difference in said Fl between the opposed faces of said channel box being not more than 0.025.