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. Their 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.
Actual Previous Highest Lowest Dates Unit Frequency
$50.35 $50.20 $148.00 $7.10 1988 - 2023 USD/LBS Daily
Uranium futures rose to $50 per pound, rebounding from the near two-month low of $49.75 as investors weighed expectations of strong demand against ample supplies.
- The UK government moved to classify nuclear energy as environmentally sustainable to facilitate inflows of private investments into nuclear facilities.
- The decision mirrored that of the EU on the inclusion of nuclear power into sustainable energy taxonomy in July last year.
- Japan approved bills allowing nuclear reactors to operate beyond 60 years if safety upgrades are met.
- The move followed the order of new power plants and the approval to restart 17 shut-down reactors.
- Supply expectations continued to grow as miners caught up to higher demand for carbon-neutral energy sources.
- Cameco announced the reopening of its McArthur River mine, the largest one in the world.
- Kazatomprom projected its output to increase by 8%-14% by 2024.
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