Uranium Spot Price
Track U₃O₈ (uranium oxide) spot market prices and historical trends
Spot price updates daily · Methodology last reviewed June 2026
Uranium Spot Price
Historical Spot Price
Long-term Contract Price & Spot−Term Spread
Most uranium trades under long-term contracts, not on the spot market — the term price and its spread to spot are the real signal.
Long-term price
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unavailable
Spot price
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unavailable
Term premium (term − spot)
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Source: Cameco (UxC/TradeTech). Cameco publishes month-end industry-average prices calculated from UxC and TradeTech. A positive spread means the term price sits above spot (the usual state); negative means spot has spiked above contract levels.
Methodology
Uranium does not trade on a public exchange. The benchmark "spot price" is an over-the-counter assessment published by the industry price reporters UxC and TradeTech from confirmed broker transactions, and is available only to their subscribers.
Our headline spot is the real, published price from the uranium.io live pricing oracle — a near-real-time U₃O₈ spot feed delivered on-chain via RedStone. It is an actual published price, not a proxy.
As an independent cross-check — and the fallback used when the oracle is unavailable — we also back out an implied spot from the Sprott Physical Uranium Trust (TSX: U.UN / OTC: SRUUF), which holds only physical U₃O₈. Because each unit represents a fixed quantity of uranium, an implied spot can be derived from the trust's units and reported net asset value:
Estimated spot = SRUUF price × factor
factor = (NAV per unit ÷ pounds of U₃O₈ per unit) ÷ SRUUF market price — recomputed each day from the trust's published NAV and holdings.
We also track the official monthly U₃O₈ reference price published via FRED (PURANUSDM) and continuously compare the headline spot against the trust's NAV-implied spot, shown below. Every figure on this page is labeled with its provenance — real, estimated, or modeled — so the basis of each number is explicit.
New to this? Read how the uranium spot price is set for a plain-English explainer, or see our full data methodology.
Headline spot
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Live oracle
Sprott NAV-implied spot
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live
Headline vs NAV-implied
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SRUUF premium/discount to NAV: --
Sources: headline spot from the uranium.io live oracle (RedStone). Cross-checks & fallback: the Sprott NAV-implied spot, the official monthly reference (FRED PURANUSDM), and the published long-term contract price above. If the oracle is unavailable, the Sprott NAV-implied estimate is shown instead and labeled accordingly. The historical chart uses Cameco's published month-end spot series (back to 1996), with the live oracle as the latest point.
The Futures page shows a modeled, illustrative curve — not exchange settlement data — and is labeled accordingly.
About Uranium Pricing
Uranium spot prices represent the cost of purchasing uranium oxide (U₃O₈) for immediate delivery. The spot market is relatively small compared to long-term contracts, which account for most uranium transactions.
Key price drivers include:
- Nuclear reactor demand and new plant construction
- Mine production and supply disruptions
- Government policies and nuclear energy adoption
- Inventory levels at utilities and traders
- Currency exchange rates (USD-based market)
For where the price could head, see our uranium price outlook for 2025–2026 and the supply & demand gap.
Price Benchmarks
*Price needed to incentivize new mine development
Cite this page
Using our data in an article or report? Please credit Yellowcake Analytics with a link.
Yellowcake Analytics. "Uranium Spot Price (U₃O₈)." Yellowcake Analytics, 2026, https://www.yellowcakeanalytics.com/spot-price.
<a href="https://www.yellowcakeanalytics.com/spot-price">Uranium Spot Price (U₃O₈)</a> — Yellowcake Analytics (www.yellowcakeanalytics.com)
Frequently Asked Questions
What is the uranium spot price today?
The current U₃O₈ (uranium oxide) spot price is shown live at the top of this page. Because uranium does not trade on a public exchange, the spot price is an over-the-counter assessment — our headline figure is the published uranium.io pricing-oracle feed, cross-checked against a Sprott Physical Uranium Trust NAV-implied estimate.
How is the uranium spot price determined?
Most uranium changes hands through long-term contracts between miners and utilities, so the spot market is thin. Price reporters such as UxC and TradeTech assess a spot value from confirmed broker transactions for their subscribers. Our live figure comes from the on-chain uranium.io oracle, with a Sprott NAV-implied spot as an independent cross-check and fallback. Full detail is in the methodology section below.
Where can I track live uranium prices?
On this page — the U₃O₈ spot price and an interactive historical chart update daily, alongside benchmarks like the all-time high, the cycle low, the 10-year average, and the incentive price needed to bring on new mine supply.