Uranium and Covid 19
Spot price has moved from $24 to $34 usd per pound u308 in the last 2 months.
Massive supply destruction has occurred due to Covid-19. Cameco and Kazatomprom, the 2 worlds largest Uranium miners have reduced or completely stopped their mining operations. They are buying in the spot market fill their contracts. The market is already running at a supply deficit and this has just exaggerated it. I expect USA utilities to start recontracting in 2021 which is put a rocket under the sport price and thus BOE.