New report upgrades outlook for uranium sector after two top producers remove a combined 15% of U3O8 from the global market in 2018.
Cameco’s shuttering of McArthur River for ten months is expected to reduce production by 13.7m pounds in 2018 translating to a combined 42.3m pounds of expected production that has been removed from the market. In 2018 alone, the reduction will be about 24.1m pounds of U3O8 or about 15% of Cantor Fitzgerald’s prior forecast of 158.4m pounds of output.
Source: Supply cuts a ‘step change’ for uranium price | MINING.com
