The Spot Physical Uranium Trust entered the market in 2022 and procured 40 million pounds of uranium in a single year—approximately one-third of global annual primary supply—locking up inventory for the foreseeable future and acting as a second black swan event (after policy-driven demand acceleration) that removed a large supply cushion from the market.
factualpending
Speaker
Ben FineoldEvidence Quote
“They were buying more pounds that year than the Chinese were. Um it was I think 40 million pounds in a single year. To put that into perspective for your listeners, that's about a third of global annual primary supply at the time.”
Created: 8/11/2026, 6:58:12 AM
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