Uranium Rises Toward 14-Month High

2025-10-30 12:46 By Andre Joaquim 1 min. read

Uranium futures rose past $81 per pound in late October, testing the 15-month high of $83.5 touched last month on expectations of higher demand for nuclear power.

The US Presidential administration announced an $80 billion deal with Canadian Westinghouse Electric for the construction of nuclear reactors.

The deal aligned with earlier moves by the US government to stimulate the sector including policies to increase enrichment capacity and accelerate the pace of licensing for reactor construction.

The government had also increased its strategic uranium stockpile as it tightened import restrictions against Russian nuclear energy, which hosted around 50% of enrichment capacity before being sanctioned by the West in 2022.

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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