Uranium Spot Price Today – Live Chart & Market Update

Uranium prices have climbed steadily for two years, and the spot market is now at a critical juncture. At 86.55 USD/Lbs on May 1, 2026, the market sits well above December 2025 lows but far from the 148.00 USD/Lbs peak set in 2007 — leaving investors to wonder whether the momentum has enough fuel to push higher.

Current Spot Price: 86.55 USD/Lbs · Daily Change: -0.35% · Monthly Change: +1.64% · Yearly Change: +24.00% · Trading Range: Recent futures 86.55

Key uranium market data from multiple sources converges on the following figures for the period covered.

What is today’s spot price of uranium?

As of May 1, 2026, the uranium spot price stood at 86.55 USD/Lbs, according to Trading Economics — down 0.35% from the previous session’s close of 86.85. Futures on Investing.com confirm the same reading, reflecting tight alignment between spot and near-term contract markets.

Current Price from Key Sources

Multiple sources report consistent figures. Cameco, the world’s second-largest uranium producer, published a spot average of 71.55 USD/Lbs for May 2026 (Cameco uranium price data), which reflects its internal contracting methodology rather than a public spot exchange. The St. Louis Fed’s monthly series shows 68.78689 USD/lb for March 2026 (FRED St. Louis Fed), illustrating the lag between end-of-month settlement and the faster-moving spot market.

Spot vs Futures Difference

The uranium market lacks a single centralized exchange. TradeTech, an industry pricing service operational since 1968, provides independent spot, mid, and long-term price assessments (TradeTech / Uranium.info). The spread between spot (86.55) and the previous close (86.85) represents normal intraday variation, not a structural disconnect between physical and paper markets.

Are uranium prices rising?

Yes — and by a meaningful margin. Uranium gained 1.64% over the past month to May 2026, and the year-over-year picture is even stronger: up 24% from the same period in 2025 (Trading Economics). Those aren’t the gains of a commodity drifting sideways.

Recent Trends

The current 86.55 reading sits well above the December 2025 low of 63.51 USD/Lbs recorded by FRED (FRED St. Louis Fed), representing a recovery of roughly 36% from that trough. Cameco’s own spot data shows 67.73 USD/Lbs in April 2026, compared to 71.55 in May — a modest pullback but still elevated compared to mid-2025 levels.

Monthly and Yearly Gains

S&P Global projects aggregate uranium capex peaking at $1.6 billion in 2027, driven by expanding mine development among the seven largest producers (S&P Global analysis). That investment signal — flowing from today’s higher prices into tomorrow’s supply — suggests the upward pressure isn’t purely speculative. It’s grounded in physical market commitments.

Will uranium skyrocket?

The honest answer is: the market expects higher prices, but nobody knows exactly how high. Trading Economics forecasts 87.50 USD/Lbs by end of Q2 2026 and 92.48 within twelve months (Trading Economics forecasts). Bank projections cited by Crux Investor span a much wider band — $80 to $150 USD/Lbs — reflecting persistent uncertainty about inventory levels, utility contracting behavior, and supply elasticity.

Forecasts to 2026

Analyst Frostad anticipates a structural “reset” in uranium pricing — a move to a new, higher plateau that persists rather than reverting to previous cycle lows (Crux Investor / Frostad analysis). S&P Global models realized prices rising from $59.6/lb in 2023 to $98.7/lb by 2033 (S&P Global long-term forecast), a 65% increase over the decade.

Demand Drivers

Global uranium production across the seven largest producers is forecast to rise from 58.5 million pounds in 2025 to 141.2 million pounds by 2033, according to S&P Global (S&P Global production forecast). But that supply ramp takes time. In the interim, uranium prices are supported by tightening availability from Kazakhstan’s Kazatomprom (29.1 million pounds forecast for 2025) and Canada’s Cameco (21 million pounds), which together account for 86% of the seven-producer total.

Is uranium stock a good buy now?

Whether uranium stocks are a “good buy” depends entirely on your time horizon. For long-term investors, the supply-demand fundamentals are arguably the strongest they’ve been in decades. For short-term traders, the $80–$150 forecast spread tells you nobody can reliably time the entry and exit.

Analyst Views

Sprott CEO John Ciampaglia captured the contracting shortfall bluntly: “We’re essentially at 50% of the replacement rate” (Sprott uranium outlook 2026). Utilities are not locking in long-term supply at replacement rates — meaning the market is gradually drawing down on inventory rather than refreshing it. That dynamic historically supports sustained price strength.

Key Stocks and Exposure

Cameco has committed to delivering an average of 28 million pounds per year from 2026 through 2030, per its own price sensitivity disclosures (Cameco contract commitments). Kazatomprom projects 2025 revenues of $3.3 billion, compared to Cameco’s $2.1 billion (S&P Global revenue comparison). Both figures reflect higher realized prices flowing through to top-line growth.

Is it too late to invest in uranium?

The “too late” question is the wrong frame. Uranium is not a stock with a single entry point — it’s a commodity in a structural supply crunch that may take a decade to resolve. The all-time high of 148.00 USD/Lbs set in May 2007 (Trading Economics historical data) is within reach if the reset thesis holds, but the path there is anything but straight.

Expert Opinions

Market analysts broadly agree the reset scenario is plausible but not certain. The wide $80–$150 bank forecast band exists because three key unknowns remain unresolved: how much mobile uranium inventory exists globally (estimated at 300 million pounds, but much locked in China, India, and fuel cycle), whether Kazatomprom’s production constraints ease, and how aggressively new demand from small modular reactors (SMRs) for AI data centers will compete for supply.

Market Timing

The question isn’t whether the price is past a point of no return — it’s whether you’re comfortable with a position that could trade range-bound for 12–18 months while supply catches up. For investors with a 5–10 year horizon, the current 86.55 level represents a middle-of-the-road entry. For those expecting quick gains, the volatility and forecast uncertainty make uranium a high-risk bet.

Who is driving the market?

Two producers dominate. Kazakhstan’s Kazatomprom forecast 29.1 million pounds of uranium production in 2025, with expected revenue of $3.3 billion (S&P Global Kazatomprom data). Canada’s Cameco forecasts 21 million pounds at $2.1 billion in revenue (S&P Global Cameco data). Together, they represent the pricing floor for the global market — if either stumbles, the spot price typically spikes.

How long until we run out of uranium?

Not soon — but “running out” is the wrong concern. The real question is whether economically viable production can keep pace with demand growth. Reserves are sufficient for decades at current consumption; the constraint is investment lead time. New mines take 7–15 years to reach production. The investment pipeline is expanding (capex peaking at $1.6B in 2027), but the timing lag creates the near-term tightness.

Uranium spot price predictions by banks range wildly from $80–$150, reflecting persistent unknowns around inventory levels, utility contracting behavior, and supply fragility.

— Crux Investor, Market Analysts

Frostad anticipates a “reset” in uranium pricing — a move to a new, higher plateau that persists rather than reverting to previous levels.

— Frostad, Crux Investor

We’re essentially at 50% of the replacement rate.

— John Ciampaglia, Sprott CEO

For investors watching uranium prices today, the bottom line is straightforward: the spot market sits at 86.55 USD/Lbs, up 24% year-over-year, driven by a supply crunch that won’t resolve quickly. Bank forecasts range from $80 to $150, reflecting genuine uncertainty about how high prices must climb before supply response damps the rally. Utilities contracting at half the replacement rate suggest inventory is being consumed without adequate replenishment — a pattern that historically precedes the next leg up. Whether you’re buying now depends entirely on whether you have the patience and risk tolerance to weather a market that may spend 12–18 months consolidating before the next move higher.