Nuclear fuel · Market intelligence
Uranium, in focus.
Live · COMEX UxC Uranium futures
$—USD / lb
Source: COMEX UxC Uranium U₃O₈ front-month futures via public market data, may be delayed. Refreshes every minute. For information only — not an offer or a physical contract price.
Contract prices and volumes, 2025.
46.9M lb
U₃O₈e purchased by US reactor operators in 2025
16% lower than 2024
$58.46
Weighted-average price per lb U₃O₈e, 2025
11% higher than 2024 ($52.71)
$76.01
Average spot-contract price per lb, 2025
13% of deliveries
$55.91
Average long-term contract price per lb, 2025
87% of deliveries
$108.70
Average price per SWU of enrichment, 2025
Up 11% from $97.66 in 2024
7%
Share of US-origin uranium in 2025 deliveries
Down from 8% in 2024
Source: U.S. EIA, Uranium Marketing Annual Report, data for 2025 (released July 2026).
About three-quarters of world production comes from three countries.
In 2024 Kazakhstan produced 39% of world mine supply, followed by Canada (24%) and Namibia (12%).
Mine production by country
2024 · 60,213 tonnes U world total
Drag the slider to change year · click a country to see its 10-year trend.
10-year trend
Kazakhstan
Share of world production
Source: World Nuclear Association, World Uranium Mining Production — tonnes U, 2015–2024. Figures are liable to change as new data becomes available.
Only 7% of uranium delivered to US reactors in 2025 was US‑origin.
Canada was the top source at 32% of deliveries, followed closely by Kazakhstan (28%) and Australia (15%). This is the shortage K&D III aims to help address.
Discuss uranium supply- Canada32%
- Kazakhstan28%
- Australia15%
- Uzbekistan7%
- United States7%
- Namibia4%
- All other origins7%
Source: U.S. EIA, Uranium Marketing Annual Report, Table 3. “All other origins” is the remainder of the named shares.
Reactor demand for uranium is set to more than double by 2040.
The World Nuclear Association finds enough uranium in the ground to meet even its highest scenario — but new mines and timely investment are needed to bring it to production.
Uranium: mine supply vs reactor requirements · tonnes U
World nuclear capacity · GWe
- Today (Jun 2025)398
- 2040 Lower552
- 2040 Reference746
- 2040 Upper966
68,920 tU
Estimated world reactor uranium requirements, 2025
150,000+ tU
Requirements in 2040, WNA Reference Scenario — more than double today
~90%
Share of utility requirements supplied by mines in recent years; the rest is secondary supply
$96.50/lb
Long-term uranium price indicator, end of August 2026 — above the 2007–08 peak of $95
These are demand scenarios, not price forecasts. 2040 values are WNA's stated minimums ("just over" / "over").
Source: WNA, World Nuclear Fuel Report 2025–2040 (Sep 2025); WNA, Uranium Markets (updated Oct 2026); 2024 mine output from WNA World Uranium Mining Production.
- 21%Kazatomprom12,463 tU
- 17%Cameco10,193 tU
- 11%Orano6,815 tU
- 10%Uranium One5,829 tU
- 10%CGN5,761 tU
- 7%Navoi Mining4,000 tU
- 6%CNNC3,286 tU
- 5%Rosatom2,738 tU
- 5%BHP2,693 tU
- 3%General Atomics/Quasar1,808 tU
- 8%Other4,627 tU
Identified resources recoverable to $130/kg U, as of 1 January 2025.
27%
Australia
2.12M tU
16%
Kazakhstan
1.22M tU
10%
Russia
0.75M tU
8%
Canada
0.64M tU
6%
Namibia
0.50M tU
6%
China
0.49M tU
5%
Niger
0.41M tU
World total recoverable identified resources to $260/kg U: 7.825 million tonnes U.
Source: World Nuclear Association; OECD NEA & IAEA, Uranium 2026: Resources, Production and Demand (Red Book).