Uranium prices averaged USD 64.6 per pound in September, 11.6% higher than August’s price and up 27.6% year on year. On 25 September, uranium traded at USD 70.0 per pound, up 19.7% month on month.
In September, prices reached the highest levels since the Fukushima disaster in 2011, supported by strong demand prospects; countries’ desires to boost energy security and reduce fossil fuel emissions have increased interest in nuclear power. In addition, there was bad news on the supply front in recent weeks, with Canada’s Cameco revising its production guidance downward for this year.
Uranium U3O8 (prices in US$/lb, aop)
Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
---|---|---|---|---|---|---|---|---|
Uranium U3O8 | - | - | - | - | 49.08 | 53.63 | 49.46 | 50.10 |