RE:RE:Days finish@ touareg - The spot rally would probably stall if the Kazaks began supplying SPUT with uranium and that's what the Bloomberg headline implied but after the news is unpacked it could be just the opposite.
The Kazaks reported that they believe Yellow Cake will exercise it's entire option to purchase uranium from them on January 1, 2022. The Kazaks also reported that they will purchase spot uranium in 2021.
So first of all, Yellow Cake would not exercise their entire option to purchase uranium from the Kazaks if they believe the price will retreat. And secondly the Kazaks would simply fill that contract from their inventory if they could. Kazatomprom would have no need to go to the spot market in 2021 if they had enough inventory to fill their contracts. Therefore the news of the Kazaks - at least in the short term - supplying SPUT is a red herring imo.
Is the Bloomberg story the market manipulation that UraniumInsider suggests?
Brando Munro in a different podcast says that it will be extremely difficult for Kazatomprom to abandon it's supply disipline before the end of 2023 as it has made commitments with the London Stock Excange not to and a breach of their commitment to them would have far reaching ramifications with other privitizations that the LSE and the Kazakhstan government are engaged in.
My guess is that the Kazaks approached SPUT for some uranium to fill their 2021 contracts in exchange for longer dated uranium and like the CNN fake news back in July about a radiation leak Bloomberg just "forgot" to report that part of it.