Uranium spot prices have held steady near $86 per pound through the summer of 2026, according to pricing data tracked by TradeTech and Cameco. The end of July spot price stood at $86.36 per pound, essentially unchanged since February, while futures tracked by Trading Economics showed a similar level of $86.60 per pound, a range that has persisted since early April.

Longer term contract pricing tells a different story. According to the latest annual market report from the US Energy Information Administration, the weighted average price of uranium purchased by US reactor operators in 2025 was $58.46 per pound across all contract types, with spot contract purchases averaging $76.01 per pound and long term contract purchases averaging $55.91 per pound. By the first quarter of 2026, long term contract pricing had climbed to roughly $90 per pound, the highest level recorded since 2008.

Uranium enrichment costs have also risen sharply. US owners and operators paid an average of $108.70 per separative work unit for enrichment services in 2025, an increase of 11 percent from the prior year. Foreign enrichment suppliers, led by Russia, France, the United Kingdom, and the Netherlands, provided 77 percent of that enrichment volume.

Year over year, uranium prices remain up more than 20 percent, reflecting structural supply tightness tied to mine suspensions, sulfuric acid shortages affecting processing, and accelerated reactor approvals in markets including China. Analysts continue to point to widening contracting activity as utilities lock in supply ahead of anticipated production shortfalls later in the decade.