Uranium prices in the United States are holding near $85 per pound in June 2026, steady since early April after erasing an earlier surge. The long-term contract price reached $90 per pound in early 2026, reflecting expectations of tightening supply against rising reactor demand.
The U.S. Energy Information Administration has warned that American nuclear utilities face a growing uranium supply gap over the next decade, with the projected shortfall reaching 184 million pounds, more than three years of reactor consumption. The gap has prompted moves to expand domestic capacity. In June 2026, Urenco announced plans to increase enrichment capacity at its U.S. facility by nearly 50 percent, signaling confidence in long-term nuclear growth.
Producer guidance points to firm output and pricing. Cameco plans to deliver between 29 million and 32 million pounds of uranium in 2026 at average realized prices of $85 to $89 per pound, backed by roughly 230 million pounds committed under long-term agreements. Cameco and Orano also agreed to acquire TEPCO Resources' remaining 5 percent stake in the high-grade Cigar Lake mine, lifting Cameco's interest to about 57.4 percent. Tightening supply, expanding reactor demand, and growing institutional interest continue to shape a bullish backdrop for uranium and related mining equities.
Source: Sprott - https://sprott.com/insights/uranium-outlook-2026/