Uranium Contract Prices Hit 16-Year Highs, Plus Major Market Development

Long-term uranium contract prices have reached over 16-year highs due to supply uncertainty and increased demand from utilities expanding capacity for AI data centers. Current term prices are around $79 per pound, the highest since 2008, with expectations of further increases.

Cameco, a leading uranium miner, reported securing contract prices with ceilings of $125-130 per pound and floors of $70-75 per pound, the best prices seen in over a decade. Spot uranium prices , which hit a 14-year high in February 2024, are now around $82 per pound. Uranium Market is Heating Up

Uranium is the primary fuel for nuclear energy. The International Energy Agency predicts that global nuclear generation could double by 2050, calling for a corresponding increase in supply.

However, Plenisfer Investments estimates that prices must exceed the marginal cost of production, currently $90-$100 per pound, by at least 30% to incentivize new projects. This projection suggests a […]

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