And an 8 week shut at Olympic Dam pulls another 1M lbs from the U market. This one is unexpected by other market participants and recently announced. Lots of little (and not so little) things adding up to constrain the supply of U3O8.
That's quite a list.
- Cameco C&M
- Langer Heinrich C&M
- Ranger Shut approaching
- Rossing likely to be shut when contracts roll off.
- Japanese reactor restarts (9 so far)
- Chinese reactor start ups (2 in the last two months)
- Kazatomprom production reductions which could be related to sustaining capital under spend and not simply low prices.
- Investment vehicles such as Yellow Cake buying up supply
- BHP with production issues at Olympic Dam
- BKY with permitting delays
- Willow Creek mothballed
Anyone else think the U price might be going nuclear?
Cheers,
Tim.
And an 8 week shut at Olympic Dam pulls another 1M lbs from the...
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