Apparently a LT contract (@ semi decent price) is finished/finishing and the price on offer for the new contract was not able to sustain the mine. The buyer will go to the spot market and buy cheap fuel.
As the long term supply contracts end either the spot will improve though demand as the LT contracts at old (high) prices end or the mines will close.
How much volume of supply is available on the spot market?
The rising U price trend that will last for a decade or more has finally begun IMO
world's biggest U. mine goes bust., page-3
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