Afternoon Guys,
This news today from the US further builds the bullish narrative in terms of supply tightening. This time in the secondary market:
Link: https://www.exchangemonitor.com/con...ranium-barter-program-doe-cleanup-portsmouth/
From Mike Alkin's 2017 presentation this means c. 7m lb is withheld from the secondary supply market in 2019:
The importance is that in a market where producers are now exhibiting a coordinated supply discipline further tightness is going to occur next year.
From my reading, not a single analyst has factored this continued DoE suspension of uranium sales into their models post the current US Federal Government Fiscal Year.
This is the equivalent of 2 x LHM taken out of the supply side of analysts models for 2019, and IMO this is also structural beyond 2019.
Cheers
John
Afternoon Guys, This news today from the US further builds the...
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