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The price of uranium

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Uranium Miner conducts a weekly review of several major uranium suppliers, auctions, and brokerages to ascertain the market price of U3O8 per pound in US dollars.

 

Current Price: 

 

U308 $28.50/lb* Effective: May 23, 2016 (unchanged +/-$0.00 from survey 1 week ago).: International supply shortages of uranium, along with escalating nuclear programs in nations such as India and China. According to the World Nuclear Association there are official plans in the works worldwide (as of Q3 2015) for 555 new reactors (either under construction, planned, or proposed).

 

* Considerations in determining spot price of Uranium: Data from recently completed transactions, data from pending transactions, firm bids to buy or borrow, firm offers to sell or lend, prices purchasers have expressed a willingness to pay but for which we are not aware of firm bids to buy, and prices sellers have expressed a willingness to accept but for which we are not aware of firm offers to sell. (Considerations not used in determining spot price: prices associated with deliveries under old or renegotiated contracts, or other than arm's-length transactions, charges for transportation other than that customarily provided by suppliers, and  prices of services or materials delivered under long-term contracts with primary suppliers).

 

Demand Side: Governments worldwide struggle for solutions to control green house gas emissions and produce affordable energy; nuclear power is the cleanest, least expensive and most secure source of electricity. There are currently (as of Q3 2015) 436 operational nuclear reactors world wide and that number is expected to grow significantly within the next decade.

 

Click to see NYMEX Uranium Futures => Uranium Futures - NYMEX

 

Uranium/Nuclear focused ETFs: Click to see Global X Uranium ETF (URA) => Uranium ETF - NYSE (fund's components here)

Other uranium related ETF style investment vehicles (focused on nuclear energy but are not limited to uranium mining and are not direct competition for URA): Market Vectors Nuclear Energy (NLR), Barclays iShares Global Nuclear Energy (NUCL) and PowerShares Global Nuclear Energy (PKN)

 

Although we often reference the spot price of uranium, the long-term price is what really counts as only a small fraction of the metal is actually traded on spot prices; over six times more uranium is traded in long-term market prices than in the spot market price. The long term market price is consistently and significantly higher than spot.

 

Long term price support comes from international competition for the commodity as a result of escalating nuclear programs in nations such as India and China. According to the World Nuclear Association there are official plans in the works worldwide (as of Q3 2015) for 555 new reactors (either under construction, planned, or proposed).

 

Historical Values (in USD) - month end close price:

  • May 16 $28.50

  • Apr 16 $27.50

  • Mar 16 $29.15

  • Feb 16 $32.15

  • Jan 16 $34.75

  • Dec 15 $34.25

  • Nov 15 $36.00

  • Oct 15 $36.25

  • Sep 15 $37.00

  • Aug 15 $36.75

  • Jul 15 $36.00

  • Jun 15 $36.50

  • May 15 $35.00

  • Apr 15 $38.25

  • Mar 15 $39.50

  • Feb 15 $38.75

  • Jan 15 $37.50

  • Dec 14 $35.50

  • Nov 14 $40.00

  • Oct 14 $36.50

  • Sep 14 $35.50

  • Aug 14 $31.00

  • Jul 14 $28.50

  • Jun 14 $28.25

  • May 14 $28.25

  • Apr 14 $30.75

  • Mar 14 $34.00

  • Feb 14 $35.50

  • Jan 14 $35.50

  • Dec 13 $34.50

  • Nov 13 $36.35

  • Oct 13 $34.75

  • Sep 13 $35.00

  • Aug 13 $35.00

  • July 13 $34.50

  • June 13 $39.65

  • May 13 $40.50

  • Apr 13 $42.50

  • Mar 13 $42.25

  • Feb 13 $42.00

  • Jan 13 $44.00

  • Dec 12 $43.50

  • Nov 12 $42.00

  • Oct 12 $42.50

  • Sep 12 $46.50

  • Aug 12 $48.50

  • July 12 $49.25

  • June 12 $51.00

  • May 12 $52.00

  • Apr 12 $51.75

  • Mar 12 $51.00

  • Feb 12 $52.00

  • Jan 12 $52.00

  • Dec 11 $51.75

  • Nov 11 $51.75

  • Oct 11 $52.00

  • Sep 11 $52.50

  • Aug 11 $49.00

  • Jul 11 $51.75

  • Jun 11 $54.25

  • May 11 $57.50

  • Apr 11 $55.50

  • Mar 11 $62.50

  • Feb 11 $69.75

  • Jan 11 $72.00

  • Dec 10 $62.50

  • Nov 10 $61.00

  • Oct 10 $52.00

  • Sep 10 $46.50

  • Aug 10 $45.00

  • Jul 10 $43.50

  • Jun 10 $41.75

  • May 10 $40.75

  • Apr 10 $41.75

  • Mar 10 $42.00

  • Feb 10 $41.75

  • Jan 10 $42.50

  • Dec 09 $45.00

  • Nov 09 $45.50

  • Oct 09 $49.50

  • Sep 09 $42.50

  • Aug 09 $47.00

  • Jul 09 $47.00

  • Jun 09 $52.00

  • May 09 $50.00

  • Apr 09 $42.00

  • Mar 09 $42.00

  • Feb 09 $45.00

  • Jan 09 $50.00

  • Dec 08 $53.00

  • Nov 08 $55.00

  • Oct 08 $45.00

  • Sep 08 $55.55

  • Aug 08 $64.50

  • July 08 $64.50

  • June 08 $59.00

  • May 08 $60.00

  • Apr 08 $65.00

  • Mar 08 $71.00

  • Feb 08 $73.00

  • Jan 08 $78.00

  • Dec 07 $90.00

  • Nov 07 $93.00

  • Oct 07 $84.00

  • Sep 07 $85.00

  • Aug 07 $90.00

  • Jul 07 $120.00

  • Jun 07 $138.00

  • May 07 $133.00

  • Apr 07 $113.00

  • Mar 07 $95.00

  • Feb 07 $85.00

  • Jan 07 $75.00

  • Dec 06 $72.00

  • Nov 06 $63.00

  • Oct 06 $60.00

  • Sep 06 $54.00

  • Aug 06 $48.50

  • Jul 06 $47.25

  • Jun 06 $45.50

  • May 06 $43.00

  • Apr 06 $41.50

  • Mar 06 $40.50

  • Feb 06 $38.25

  • Jan 06 $37.50

  • Dec 05 $36.25

  • Nov 05 $34.50

  • Oct 05 $33.00

  • Sep 05 $31.00

  • Aug 05 $30.20

  • July 05 $29.50

  • Jun 05 $29.00

  • May 05 $29.00

  • Apr 05 $24.00

  • Mar 05 $22.50

  • Feb 05 $21.80

  • Jan. 05 $21.00

  • Dec. 04 $20.70

  • Nov. 04 $20.50

  • Oct. 04 $19.90

  • Aug. 04 $19.25

  • Jan 04 $15.50

  • Jan 03 $10.30

  • Jan 02 $9.60

ver uranium? Sides dig in over mineral - Denver Post 

436 Active Reactors (as of Sept. 2015)

Table of World Nuclear Reactors 2014 & Uranium Requirements <= Source; World Nuclear Assoc.

Click here for most current/updated numbers on nuclear reactor construction.

COUNTRY

(Click name for
Country Profile)

NUCLEAR ELECTRICITY GENERATION 2014

REACTORS OPERABLE

Aug 2015

REACTORS UNDER CONSTRUCTION

Aug 2015

REACTORS PLANNED

Aug 2015

REACTORS PROPOSED

Aug 2015

URANIUM REQUIRED 2015

billion kWh

% e

No.

MWe net

No.

MWe gross

No.

MWe gross

No.

MWe gross

tonnes U
Argentina
5.3
4.0
3
1627
1
27
2
1950
2
1300
215
Armenia
2.3
30.7
1
376
0
0
1
1060
 
 
88
Bangladesh
0
0
0
0
0
0
2
2400
0
0
0
Belarus
0
0
0
0
2
2388
0
0
2
2400
0
Belgium
32.1
47.5
7
5943
0
0
0
0
0
0
1017
Brazil
14.5
2.9
2
1901
1
1405
0
0
4
4000
326
Bulgaria
15.0
31.8
2
1906
0
0
1
950
0
0
324
Canada
98.6
16.8
19
13553
0
0
2
1500
3
3800
1784
Chile
0
0
0
0
0
0
0
0
4
4400
0
China
123.8
2.4
26
23144
25
27393
43
49970
136
153000
8161
Czech Republic
28.6
35.8
6
3904
0
0
2
2400
1
1200
566
Egypt
0
0
0
0
0
0
2
2400
2
2400
0
Finland
22.6
34.6
4
2741
1
1700
1
1200
1
1500
751
France
418.0
76.9
58
63130
1
1750
0
0
1
1750
9230
Germany
91.8
15.8
8
10728
0
0
0
0
0
0
1889
Hungary
14.8
53.6
4
1889
0
0
2
2400
0
0
357
India
33.2
3.5
21
5302
6
4300
22
21300
35
40000
1579
Indonesia
0
0
0
0
0
0
1
30
4
4000
0
Iran
3.7
1.5
1
915
0
0
2
2000
7
6300
176
Israel
0
0
0
0
0
0
0
0
1
1200
0
Italy
0
0
0
0
0
0
0
0
0
0
0
Japan
0
0
43
40480
3
3036
9
12947
3
4145
2549
Jordan
0
0
0
0
0
0
2
2000
 
 
0
Kazakhstan
0
0
0
0
0
0
2
600
2
600
0
Korea DPR (North)
0
0
0
0
0
0
0
0
1
950
0
Korea RO (South)
149.2
30.4
24
21677
4
5600
8
11600
0
0
5022
Lithuania
0
0
0
0
0
0
1
1350
0
0
0
Malaysia
0
0
0
0
0
0
0
0
2
2000
0
Mexico
9.3
5.6
2
1600
0
0
0
0
2
2000
270
Netherlands
3.9
4.0
1
485
0
0
0
0
1
1000
103
Pakistan
4.6
4.3
3
725
2
680
2
2300
0
0
101
Poland
0
0
0
0
0
0
6
6000
0
0
0
Romania
10.8
18.5
2
1310
0
0
2
1440
1
655
179
Russia
169.1
18.6
34
25264
9
7968
31
33264
18
16000
4206
Saudi Arabia
0
0
0
0
0
0
0
0
16
17000
0
Slovakia
14.4
56.8
4
1816
2
942
0
0
1
1200
466
Slovenia
6.1
37.2
1
696
0
0
0
0
1
1000
137
South Africa
14.8
6.2
2
1830
0
0
0
0
8
9600
305
Spain
54.9
20.4
7
7002
0
0
0
0
0
0
1274
Sweden
62.3
41.5
10
9487
0
0
0
0
0
0
1516
Switzerland
26.5
37.9
5
3333
0
0
0
0
3
4000
521
Thailand
0
0
0
0
0
0
0
0
5
5000
0
Turkey
0
0
0
0
0
0
4
4800
4
4500
0
Ukraine
83.1
49.4
15
13107
0
0
2
1900
11
12000
2366
UAE
0
0
0
0
3
4200
1
1400
10
14400
0
United Kingdom
57.9
17.2
16
9373
0
0
4
6680
7
8920
1738
USA
798.6
19.5
99
98792
5
6018
5
6063
17
26000
18692
Vietnam
0
0
0
0
0
0
4
4800
6
6700
0
WORLD**
2,411
11.5
436
378,995
67
70,107
166
186,704
322
364,920
66,883
 
billion kWh
% e
No.
MWe
No.
MWe
No.
MWe
No.
MWe
tonnes U
 
NUCLEAR ELECTRICITY GENERATION
REACTORS OPERABLE
REACTORS UNDER CONSTRUCTION
ON ORDER or PLANNED
PROPOSED
URANIUM REQUIRED

 

Sources & Ledger:

Sources:
Reactor data: WNA to 1/8/15 (excluding eight shut-down German units)
IAEA for nuclear electricity production & percentage of electricity (% e) April 2015.
WNA: Global Nuclear Fuel Market report Sept 2013 (reference scenario 2015) for U. 66,883 tU = 78,875 t U3O8
Operable = Connected to the grid;
Under Construction = first concrete for reactor poured, or major refurbishment under way;
Planned = Approvals, funding or major commitment in place, mostly expected in operation within 8-10 years;
Proposed = Specific program or site proposals, expected operation mostly within 15 years.
 

New plants coming on line are largely balanced by old plants being retired. Over 1996-2013, 66 reactors were retired as 71 started operation. There are no firm projections for retirements over the period covered by this Table, but WNA estimates that at least 60 of those now operating will close by 2030, most being small plants. The 2013 WNA Market Report reference scenario (Table 2.5) has 74 reactors closing by 2030, and 272 new ones coming on line (figures exclude closed Japanese reactors).
TWh = Terawatt-hours (billion kilowatt-hours), MWe = Megawatt (electrical as distinct from thermal), kWh = kilowatt-hour.
** The world total includes six reactors operating on Taiwan with a combined capacity of 4927 MWe, which generated a total of 40.8 billion kWh in 2014 (accounting for 18.9% of Taiwan's total electricity generation). Taiwan has two reactors under construction with a combined capacity of 2700 MWe. It was expected to require 972 tU in 2015.

65,908 tU = 77,725 t U3O8

 

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