Uranium prices averaged USD 82.25 per pound in October, up 2.8% from September. On 31 October, the commodity traded at USD 79.65 per pound, down 2.6% from 30 September.
Prices rose after Amazon and Google said they would invest in nuclear energy to power their data centers, reflecting growing interest in uranium as a means to reduce greenhouse gas emissions. That said, Kazakhstan’s top uranium miner revealed that its uranium output had risen 17% year on year in Q3, limiting the price rise.
This chart displays Uranium (US$/lb) from 2022 to 2024.
Uranium U3O8 (prices in US$/lb, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Uranium U3O8 | 50.39 | 50.95 | 50.95 | 72.06 | 96.40 | 88.85 | 81.98 | - |