Uranium futures rose to $71.90 per pound on June 2, according to online analysis firm Trading Economics. That price was near its highest level since early February—in contrast to an 18-month low in prices reached in mid-March.
A combination of plentiful supply and uncertain demand resulted in spot pricing for uranium closing out March below $64 per pound, with dips down to about $63.50 during mid-March—the lowest price in 18 months, according to tracking by analysis firm Trading Economics. Spot prices have also fallen steadily since the beginning of 2024. Meanwhile, long-term prices have held steady at about $80 per pound at the end of March, according to Canadian front-end uranium mining, milling, and conversion company Cameco.
The uranium market closed out 2024 with a spot price of $72.63 per pound and a long-term price of $80.50 per pound, according to global uranium provider Cameco.