Uranium Rises to 10-Month High

2025-09-24 12:12 By Andre Joaquim 1 min. read

Uranium futures in the US surged to above $80 per pound in September, the highest in ten months, on fresh interest from physical uranium funds and long bets on nuclear fuel.

Physical fund Yellow Cake raised $125 million for uranium purchases, echoing similar moves from industry heavyweight Sprott, that triggered a rally in uranium prices in June.

This was after the US announced it would boost its strategic uranium reserve to buffer potential supply setbacks on growing import restrictions from Russia.

In the meantime, the World Nuclear Association forecasted that uranium demand for nuclear power is due to rise by 28% by 2030, reflecting government's preference of nuclear power to reach energy security goals and increasing data-center demand by software companies.

On the supply front, Canada's Cameco cut its annual production guidance due to expansion delays in its McArthur mine in Saskatchewan, while Kazatomprom cut its output by 10% next year.



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