Uranium prices averaged USD 51.6 per pound in April, up 2.3% from March’s price but 14.3% lower than in the same month last year. On 24 April, uranium traded at USD 52.1 per pound, 3.5% higher than on the same day of the previous month.
The G7 announced in mid-April that they would seek to push Russia out of the supply chain for nuclear energy, leading to a sharp rise in the spot price of uranium. That said, due to the prevalence of long-term contracts in the market, it remains to be seen whether the rally will be maintained in the short term. The spot price has remained within a tight USD 47–55 per pound band in the past year.
Uranium U3O8 (prices in US$/lb, aop)
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