"Kazakhstan increased its production 58% last year to become the world's Number 1 producer". Not sure if that is correct or not - probably is and sounds entirely plausible but even with that I am not convinced that the U market is oversupplied.
Lack of transparency on the precise amout of secondary supplies and how much is going to be released by the US govt from their stockpiles makes getting a clear picture on precise ss and dd fundamentals difficult. The coming end of the megatons for megawatts program could be a significant factor and will be in my view. Have covered my thoughts on that before.
It is hard to reconcile any assertions of over supply with news like this though......
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