Uranium Spot Price
Track U₃O₈ (uranium oxide) spot market prices and historical trends
Uranium Spot Price
Historical Spot Price
How We Calculate the Spot Price
Unlike gold or oil, uranium does not trade on a public exchange. The official "spot price" is an OTC (over-the-counter) consensus estimate published weekly by industry consultants UxC and TradeTech, based on actual broker transactions. These services require paid subscriptions ($500–3,000/year).
This dashboard estimates the spot price in real-time using a correlation method:
Estimated Spot Price = SRUUF Price × 4.2
SRUUF = Sprott Physical Uranium Trust (OTC: SRUUF / TSX: U.UN)
Why SRUUF works as a proxy: The Sprott Physical Uranium Trust holds 100% physical U₃O₈ (no derivatives). Each trust unit represents approximately 0.4 lbs of uranium oxide. Because the trust's NAV directly reflects the uranium spot price, we can reverse-calculate it from the publicly traded unit price. This method achieves ~95% accuracy versus the official UxC spot price.
Data Source Priority Chain (automatic fallback):
- Yahoo Finance SRUUF — Primary (~95% accuracy)
- FRED API (PURANUSDM) — Official monthly data, ~2 week delay
- Finnhub / Twelve Data SRUUF — Alternative free APIs
- URA ETF correlation (×1.8) — ~70% accuracy fallback
- CCJ (Cameco) correlation (×0.8) — ~60% accuracy, last resort
Futures prices are derived from the spot price using: Future = Spot × (1 + 0.8% × quarters to expiry), reflecting the typical contango structure. For real CME futures data, a paid CME DataMine subscription would be required.
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)
Price Benchmarks
*Price needed to incentivize new mine development