In the past State owned Uranium suppliers have been dumping Uranium into the US at below cost of production, the reason why they have been doing this is to cripple the US nuclear industry, by making the mines, conversion and enrichment non viable in the US, it has caused them to lose a skilled workforce and production for it's own needs and make them totally relying of SOE product.
The Spot market was one means of doing that, but even recently Cameco has been forced to do similar by leaving their own product in the ground and buying on the spot market, one of the problems with that is that by doing this there are ways to circumvent what is obligated and un-obligated material
using what they call swaps, where no physical material actually changes hands, but the obligation status gets hidden in the swap, the US is on to this and all Uranium in the US will be fully traceable going forward, not so sure if the SOE's will be as willing to sell their product to the ROW at less than production costs going forward? as the way I see it, is that they were attempting to dismantle the US nuclear capabilities, if this Uranium Fund circumvents that, then the SOE's reason for underselling their product price may may mean that their intended reason for doing so is no longer there?
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