Uranium prices averaged USD 57.8 per pound in August, 3.6% higher than July’s price and up 17.3% year on year. On 28 August, uranium traded at USD 58.5 per pound, up 4.0% month on month.
The average spot price in August was the second highest since the Fukushima disaster in 2011, after the USD 60 per pound reached in April 2022. A number of bullish news stories appear to be seeping through into the spot price despite the prevalence of long-term contracts. Most recently, a coup in Niger in late July increased downside risks to supply.
This chart displays Uranium (US$/lb) from 2021 to 2023.
Uranium U3O8 (prices in US$/lb, aop)
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
|---|---|---|---|---|---|---|---|---|
| Uranium U3O8 | - | - | 35.7 | 45.6 | 49.1 | 53.6 | 49.5 | 50.1 |