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Uranium futures near $89 a pound as nuclear demand outpaces supply
Bloomberg says continuous front-month uranium futures topped $100 a pound in late January before trading mostly between $84 and $87 for five months.
Bloomberg’s continuous front-month uranium futures contract briefly surged above $100 a pound in late January, before retreating and moving range bound between $84 and $87 for about five months, according to OilPrice.
OilPrice reports that momentum has returned in August, with uranium futures approaching $89 a pound, the highest level since early February, as tightening supplies and government support for nuclear power meet rising electricity demand tied to the AI infrastructure buildout.
The outlet points to a structural supply constraint, saying years of underinvestment have limited mine supply growth despite higher reactor demand, and that new uranium projects can take a decade to come online.
OilPrice also notes that uranium output is concentrated among a small set of miners, and highlights Goldman analysts’ view that the uranium market has entered a deficit that could widen as new reactor demand comes online, with China expected to lead global nuclear expansion by the end of the decade.