Uranium prices held in a narrow range near $85 per pound through the second quarter of 2026 after a strong start to the year. The spot price climbed above $100 in January, reaching $101.26 and its highest level since February 2024, before consolidating between $84 and $87 in the following months. Long-term contract prices have surged to $90 per pound, the highest since 2008.
The price strength reflects converging demand and supply pressures. Analysts point to the scaling of AI data center infrastructure, which requires round-the-clock baseload power, alongside supply constraints among major producers and a global policy shift toward nuclear energy.
The United States remains heavily dependent on imports for its uranium. The domestic sector is slowly recovering after years of near-dormancy, but a significant gap persists between annual US requirements and domestic production of roughly 46 to 47 million pounds per year.
Federal policy is reinforcing the sector's outlook. The United States has moved to rebuild its domestic nuclear fuel supply chain, expand strategic stockpiles, and accelerate permitting for critical minerals projects. General Matter received a $900 million Department of Energy contract to build domestic high-assay low-enriched uranium enrichment capacity, part of a broader $2.7 billion federal initiative. Uranium-focused stocks rose about 40% on average for the year even as the commodity price stayed muted.
Source: Investing News Network -- https://investingnews.com/uranium-forecast/