RE:RE:RE:RE:Ouch! Looks like honeymoon is over. Spot down 1.5$. I would agree with you but there was MORE stock piled overground when Uranium was trading at $138 US a pound back in 2007-8. So the amount above ground is not the cause of the low prices. The low price is caused by the continued willingness of suppliers to sell at these low prices. As they say the cure for low prices is low prices because sooner or later miners will go out of business. Centrifuge operators will have to shutdown their operations and supply must come off the table. All of those things are happening right along the supply chain therefore it is simply a matter of time before supply at uneconomic prices stops.
The demand is there, the supply is coming off - albeit slowly and that will create a shortage on the spot market. Utilities with uncovered requirements will start to scramble just as they did before.
Overlaying all of this is the Russian and Kazakh almost monopoly of the commodity ksth from a U3O8 perspective and from a UF6 and enrichment perspective.
The Saudis controlled oil supply and price with only 10% of market share. Just think what you can do when you control over 50% of the U3O8 market and 60% of the enrichment market.
You can do an awful lot with that type of market clout and the Russians have used energy as a tool before and I am quite sure they will do it again. They even have control of 25% of US supply thanks to the Clintons who were stupid enough to sell it to them. How dumb can you be.
But you cannot blame the Russians for the stupidity of American political elites. They are just playing the cards they were dealt and very astutely at that.
Malcolm