Sufficient supply, uncertain demand influence uranium markets

March 5, 2025, 7:00AMANS Nuclear Cafe

Uranium futures closed out February at about $65.55 per pound, according to online analysist firm Trading Economics. Futures prices have been below $66 per pound since mid-February.

Among the factors influencing prices are a sufficient supply combined with uncertain demand. Since the beginning of the year, the price of uranium has decreased more than 10 percent—or $7.45 per pound—based on trading on a “contract for difference” that tracks the benchmark market.

Meanwhile, uranium provider Cameco calculated an end-of-February spot price for uranium of $65.03, with a long-term price of $80.

Trump and Russia: According to Trading Economics, uranium prices are also being influenced by the foreign policy of the Trump administration, which has “adopted a lenient rhetoric against Russia and signaled that it will soon aim to secure economic ties with the country, supporting bets that it may remove current sanctions against the import of Russian nuclear fuel.” In addition, there is “a backdrop of plentiful supply of yellowcake for Western enrichers with capacity constraints.”

Data centers: Speculative positions on nuclear power demand for U.S. data centers are also impacting the uranium market. Analysts have noted that tech giants are racing to secure new power capacity for data centers, although Microsoft has reportedly canceled its leases on data centers worth a combined 200 megawatts.

Forecast: Trading Economics expects uranium to be trading at $65.90 per pound by the end of this quarter and at $66.95 in 12 months’ time.


Related Articles

Update on Zaporizhzhia

October 20, 2025, 12:00PMNuclear News

Repairs have reportedly started to restore off-site power to Ukraine’s Zaporizhzhia nuclear power plant. About a month ago, the site lost connection to the grid for the 10th time during the...

A focus on clean energy transition

October 14, 2025, 9:30AMANS Nuclear Cafe

Michigan-based consulting firm Ducker Carlisle has released a report that outlines projected developments and opportunities as well as potential problems in the global shift to cleaner power....

Shifting the paradigm of supply chain

September 16, 2025, 9:30AMNuclear NewsChad Wolf

When I began my nuclear career, I was coached up in the nuclear energy culture of the day to “run silent, run deep,” a mindset rooted in the U.S. Navy’s submarine philosophy. That was...

Aalo breaks ground in Idaho

September 3, 2025, 7:01AMNuclear News

Eight days after Aalo Atomics released the details of its securing of $100 million in Series B funding, the company announced that it has broken ground on the 10-MWe Aalo-X. Sited in the...