Uranium Drops to 1-Month Low

2025-10-21 17:08 By Andre Joaquim 1 min. read

Uranium futures in the US were at $77 per pound in October, the lowest in one month, as a quieter period in physical markets drove sellers to reduce their asking prices.

Futures had rallied to a 15-month high this month after Sprott purchased 2.3 million pounds of U3O8 in the end of September, while UK's Yellow Cake raised $125 million for uranium purchases.

Buying by physical holding funds commonly trigger rallies in benchmark prices due to the thinness of uranium markets.

In the meantime, the focus on energy security and de-carbonization goals drove the World Nuclear Association to forecast that uranium demand for nuclear power is due to rise by 28% by 2030.

On the supply front, Canada's Cameco cut its annual production guidance due to expansion delays in its McArthur mine in Saskatchewan, forecasting a 19% drop in mined output from the key source.

Also, the world's top producer Kazatomprom cut its output by 10% next year.



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