Executive Order from Trump will change the US commodity sector
investmentwatchblog.com / BY IWB ·
Last week, a request from the Uranium Producers of America (‘UPA’) grabbed the headlines, as the organization was asking the US Department of Energy (DOE) to suspend the sale of (physical) uranium on the spot market. The UPA correctly described the status of the US based Uranium producers as ‘fragile’, and it’s pretty clear the DOE has been a huge ‘help’ in destroying America’s domestic uranium market.
UPA says ‘ the uranium market is oversupplied in the short term, and the DOE material continues to overwhelm the market with large quantities of price insensitive supply’, and this statement is absolutely correct. The DOE has been selling yellowcake no matter what price it was receiving for it, but by doing so, the collateral damage in the sector was (and is) huge.
Whether the DOE receives $25 per pound of uranium or $35 won’t make or break the government’s budget, but would make a huge difference for the domestic producers. Just to give you an example, in the second half of 2016, the DOE has dumped 3.4 million pounds of uranium on the open market, whilst the total uncommitted utility demand for the same period was just 0.3 million pounds. Indeed, the DOE is dumping 11 times more uranium on the market than strictly necessary to fill a demand.
The post Executive Order from Trump will change the US commodity sector appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/04/22/executive-order-from-trump-will-change-the-us-commodity-sector/
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