Uranium prices averaged USD 85.58 per pound in May, down 0.5% from April. On 29 May, the commodity traded at USD 84.90 per pound, down 1.8% from 30 April.
The spot market stayed sleepy in May, with Sprott—owner of the world’s largest physical uranium fund—forgoing purchases. The market remains thinly traded and opaque, reliant on long-term contracts; however, this could soon change, with CME Group reported in May to be considering a physically based uranium futures contract.
This chart displays Uranium (US$/lb) from 2024 to 2026.
Uranium U3O8 (prices in US$/lb, aop)
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Uranium U3O8 | - | 88.85 | 81.98 | 78.44 | 68.31 | 70.01 | 74.76 | 78.49 | 86.74 | - | - | - |