Uranium prices averaged USD 51.6 per pound in April, up 2.3% from March’s price but 14.3% lower than in the same month last year. On 24 April, uranium traded at USD 52.1 per pound, 3.5% higher than on the same day of the previous month.
The G7 announced in mid-April that they would seek to push Russia out of the supply chain for nuclear energy, leading to a sharp rise in the spot price of uranium. That said, due to the prevalence of long-term contracts in the market, it remains to be seen whether the rally will be maintained in the short term. The spot price has remained within a tight USD 47–55 per pound band in the past year.
This chart displays Uranium (US$/lb) from 2021 to 2023.
Uranium U3O8 (prices in US$/lb, aop)
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
|---|---|---|---|---|---|---|---|---|
| Uranium U3O8 | - | 30.7 | 35.7 | 45.6 | 49.1 | 53.6 | 49.5 | 50.1 |