We sell uranium and fuel services directly to nuclear utilities around the world, as uranium concentrates, UO2, UF6, conversion services or fuel fabrication. Utility companies buy the majority of their uranium and fuel services products under long-term contracts with suppliers and meet the rest of their needs on the spot market.
We are also active in the spot market, buying and selling uranium where it is beneficial for us. Our activity in the spot market takes prudent consideration of the spot price and other business factors. This activity gives us insight into the underlying market fundamentals and is a source of profit.
The purpose of our marketing framework is to deliver value. Our approach is to secure a solid base of earnings and cash flow by maintaining a balanced contract portfolio that optimizes our realized price.
Supply & Demand
In today's environment, we believe the risk to uranium supply is greater than the risk to demand and expect it will create a renewed focus on ensuring availability of reliable long-term supply to fuel nuclear reactors.
Uranium Price Sensitivity
The sensitivity of our average realized price under various uranium spot prices is based on Cameco's long-term contract portfolio.
Supply & Demand
Economics, trade policies, and most recently, COVID-19 has impacted the security of uranium supply throughout the world.
We hold an extensive contract portfolio and long-term, trusting relationships with customers around the world.
Caution about Forward-Looking Information
Please click here for additional information about the assumptions applied in making the forward-looking statements on this page and the factors that could cause results to differ materially.