Uranium price evolution

Uranium prices fell to below $100 per pound, after the US government refrained from banning imports of Russian nuclear fuel in its latest sanctions package, easing concerns of even greater supply risks in the global market. Still, a hearing on banning imports from the world’s top enriched uranium producer is expected in the coming weeks following a push from selected Congress members. Uranium prices remained higher year-to-date and traded sharply above averages from the last 15 years amid other risks to supply and strong demand. Kazatomprom, the world’s largest uranium producer, signaled a 13% decline in output while Canada’s Cameco downgraded production forecasts in September. On the demand side, the US and 20 other countries announced that their nuclear power will be tripled by 2050. China leads the nuclear energy bets, currently building 22 of 58 global reactors, while Japan restarted projects to increase nuclear power output.

Uranium is a highly dense metal which occurs in most rocks and is mostly used as a fuel in nuclear power plants. The standard contract unit is 250 pounds of U3O8 and is traded on New York Mercantile Exchange. Top uranium producers are Kazakhstan, Canada and Australia. The Uranium prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.

93.5095.00148.007.101988 – 2024USD/LBSDaily

Uranium – Price – Chart – Historical Data – News (d3fy651gv2fhd3.cloudfront.net)