Cameco buying continues to exert upward pressure on U3O8 prices

摘要

The prospect that Cameco will continue buying uranium through theend of 2019 until it buys up to 15 million pounds while it keep itsMcArthur River conventional mine shut indefinitely, has removedrelatively inexpensive material from the market, virtually ensuring spotprices will continue to rise, according to market sources.“Cameco’s buying has cleared out the low-hanging, cheapermaterial. When Cameco comes out for the next 1 million pounds, we’llsee more strengthening of the price,” an industry source said in aNovember 9 interview.