Demand falls, While supply increases, page-2

Interesting to note that % of world demand has consistently been below 100% each year. I also predict 2014 will see a decrease in production due to mine shutdowns.

The big question is how much inventory is out there? Clearly less is produced than is used so the shortfall is coming from stockpiles. Some of it was in the form of decommissioning Russian Cold-War era weapons supplying US reactor demand, but that 20 year agreement has come to an end and unlikely to occur again soon given recent political tensions.

I personally think that the recent spot price rises are due to US utilities stocking up due to the end of this agreement with Russia.