The Volatility of Uranium Prices: Peaks and Troughs from 1990 to 2024

Uranium prices (NUEXCO, US$ per pound) experienced significant fluctuations from 1990 to 2024, shaped by changes in nuclear energy demand and supply conditions. In the early 2000s, rising demand for nuclear power and supply constraints drove uranium to record highs, surpassing $140 per pound. Prices then fell sharply and remained relatively low until recent years, when renewed interest in nuclear energy for low-carbon power generation spurred another price increase. After peaking at $81 per pound in February 2024, prices declined to $64 per pound by October 2024, underscoring ongoing volatility in the uranium market.