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Uranium Prices Move Higher Again, Crossing $76/lb+

The price of uranium keeps moving up, with the spot price now sitting above US$76/lb according to data shared by several websites.

Markets have not seen uranium prices this high since before the global financial crisis in 2008. The price of uranium keep has been inching higher thought the second half of the year.

What happened? 

Evolution Markets reported the price of uranium had risen $1.75 after North American markets had closed for the day.

The price has moved to $76.25/lb, Evolution Markets data showed.

Numerco, another source of uranium price data, had indicated uranium had jumped $1.12 – with an asking price from sellers of $76.25.

The price of uranium has been moving up rapidly since the middle of the year, as the supply and demand imbalance becomes more apparent. 

Wall Street analysis this week suggested Uranium could run a lot higher. 

One model projects uranium would need to rise to at least $120/lb to attract more mines to open. 

The demand side is extremely bullish, with China and India committing to massive new nuclear power.

Leading Western nations are set to announce a commitment to triple nuclear energy at the CO P28 Climate Change summit in Dubai. 

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