Last updated: November 6, 2026
Uranium prices, production and nuclear capacity, by the numbers
Uranium spot and term prices, physical holdings, miner production, US output and purchases, and the reactor fleet that burns the fuel — from published sources.
Two different kinds of number sit behind this name, and they must not be mixed. The first kind measures the price of the pound: spot, term, and what utilities actually paid on delivered contracts. The second kind measures the physical market: how much was mined, how much is held, and how many reactors need fuel. The first kind tells a reader what the market thinks. The second tells a reader whether the market can deliver.
What the latest numbers show is a market repricing the future faster than the present: the term price has broken its 2007 ceiling while spot is still a third below its 2007 peak, the largest physical holder keeps buying, and the two largest miners are both producing below plan — while 78 GW of new nuclear capacity is under construction.
The figures
| Figure | Value | Trend vs prior period | Source |
|---|---|---|---|
| Uranium spot price (TradeTech), October 30, 2026 | $93.25 per pound U3O8 | ▲ Up Prior: $89.75 at September 30, 2026 (+$3.50 in the final week); +13% year over year; +13.7% year to date in 2026 | TradeTech, via FNArena, November 3, 2026 |
| Uranium spot price (Cameco month-end average), September 30, 2026 | $89.63 per pound U3O8 | ▲ Up Prior: $81.55 at December 31, 2025 (+9.9% year to date); $82.63 at September 30, 2025 (+8.5% year over year); 2026 range $84.18 (May) to $94.28 (January) | Cameco month-end industry average (UxC / TradeTech), via Axis Intelligence, October 2, 2026 |
| Uranium long-term (term) price, September–October 2026 | $96.50 per pound at September 30; $97 (TradeTech) and $98 (Cameco) at October 30 | ▲ Up Prior: $86.50 at December 31, 2025; $83.00 at September 30, 2025 (+16.3% year over year); above the $95.00 ceiling of May 2007–March 2008 — the highest in Cameco's series | Cameco month-end series, via Axis Intelligence; TradeTech via FNArena; Cameco indicator via USA Newshour, November 4, 2026 |
| Uranium spot price, all-time peak | $136 per pound, June 2007 | ● Baseline October 2026 spot of $93.25 sits about 31% below the nominal peak; the term price has already cleared its 2007 ceiling | Cameco month-end series, via Axis Intelligence |
| Sprott Physical Uranium Trust holdings, June 30, 2026 | 81,447,348 pounds U3O8; market value $6.93 billion; total net asset value $7.04 billion | ▲ Up Prior: about 74.9 million pounds at the start of 2026; 18.2 million pounds at launch, July 19, 2021; about 81.7 million pounds by September 10, 2026 | Sprott Physical Uranium Trust Investor Presentation, June 30, 2026 |
| Sprott Physical Uranium Trust purchases | 8.67 million pounds in 2025; about 7 million pounds in 2026 to September 10 | ▲ Up Prior: 3.06 million pounds in 2024; 3.89 million pounds in 2023; annual acquisition capacity limit about 9 million pounds | Discovery Alert, September 2026; Mining.com via IndexBox, January 2026 |
| Cameco uranium production and sales, Q3 2026 | Production 3.5 million pounds (Cameco share); sales 5.6 million pounds; average realized price C$91.76 per pound | ▼ Down Prior: production down 20% year over year; sales down 8%; realized price up 8% from C$85.22 in Q3 2025; 2026 production guidance cut to 19.5–20.5 million pounds from 19.5–21.5 million | Cameco Q3 2026 results, via Zacks, November 2026 |
| Kazatomprom uranium production, 2025 and 2026 guidance | 67.18 million pounds in 2025 (100% basis); 2026 guidance 71.49–75.39 million pounds (27,500–29,000 tU) | ▲ Up Prior: 2025 production up 10–11% year over year; 2026 guidance subject to sulphuric acid availability; 2027 acid terms unsigned as of October 2026 | World Nuclear News, February 17, 2026; Kazatomprom 2025 full-year results |
| US uranium concentrate production, 2025 | 2.1 million pounds U3O8 in 2025; mine production 1.388 million pounds | ▲ Up Prior: 657,000 pounds of concentrate in 2024 (more than tripled); 677,000 pounds mine production in 2024 (more than doubled); most since 2017; first half of 2026 added 2.13 million pounds of concentrate | US Energy Information Administration, 2025 Domestic Uranium Production Report, June 2026 |
| US reactor uranium purchases, 2025 | 46.9 million pounds U3O8 equivalent bought at a weighted-average $58.46 per pound | ● Mixed Prior: 55.9 million pounds in 2024; price $52.71 in 2024 (+11%); US-origin uranium 7% of deliveries; Canada, Kazakhstan and Australia supplied a combined 75% | US Energy Information Administration, 2025 Uranium Marketing Annual Report, July 2026 |
| Global nuclear capacity in operation, end of 2025 | 420 GW, reactors in operation in over 30 countries | ● Flat Prior: 3 GW of new capacity came online in 2025 and 3 GW retired, two-thirds of it in Belgium; capacity unchanged on the year | International Energy Agency, Global Energy Review 2026 — Nuclear |
| Nuclear capacity under construction, 2025–2026 | 78 GW under construction in 15 countries; 81 reactors under construction at September 30, 2026 (80,488 MWe) | ▲ Up Prior: 59 reactors under construction in mid-2024; 62 at end-2024; ten construction starts in 2025 (nine in China, one in Russia), 12.2 GW; half of capacity under construction is in China | International Energy Agency, Global Energy Review 2026; World Nuclear Association construction data, via Discovery Alert, October 2026 |
| World reactor uranium requirements, forecast | 175 million pounds in 2024, rising to 391 million pounds by 2040 (+124%) | ▲ Up Prior forecast raised from +99% to +124% in the World Nuclear Fuel Report 2025; reactors need about 180 million pounds a year today against about 157 million pounds mined in 2024 | World Nuclear Association, World Nuclear Fuel Report 2025, via Aranca Research, August 2026 |
| NexGen Rook I project (Arrow deposit) | Probable reserves 239.6 million pounds at 2.37% U3O8; planned output up to 30 million pounds a year; C$2.2 billion build | ● Baseline Construction licence March 5, 2026; construction from July 2026; first production around 2030; 2021 feasibility study: 11-year life, 233.6 million pounds total, after-tax NPV C$3.5 billion at 8%, 52.4% IRR | NexGen Energy / Carbon Credits, 2026; Canadian Nuclear Safety Commission |
How to read these numbers
Included: TradeTech and Cameco spot and term prices to October 2026; Sprott Physical Uranium Trust holdings and purchases; Cameco Q3 2026 production, sales and guidance; Kazatomprom 2025 production and 2026 guidance; EIA US production and marketing figures for 2025; IEA global nuclear capacity and construction; the World Nuclear Association's 2040 demand forecast; and NexGen's Rook I project figures. Excluded: any figure from a paywalled or login-gated price service (UxC and TradeTech primary feeds are not directly quoted — only their published month-end indicators as reported by Cameco, FNArena, and Benchmark); secondary price feeds that could not be tied to a named indicator; and the EIA's unfilled-requirements figure for 2026–2035, which was seen only in secondary summaries and is logged as a gap in SOURCES.md.
Spot and term prices come from different indicator families (TradeTech weekly indicators versus Cameco's month-end average of UxC and TradeTech quotes) and differ by a few dollars; the table labels each figure with its indicator so the two are never blended. Forecasts and planning figures are labeled as forecasts, not actuals.
Disclaimer: Figures on this page are aggregated public estimates, not investment or professional advice. Original reporting and the underlying surveys remain the work of the sources linked above; this page summarizes their published figures with attribution and adds no proprietary dataset.
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Changelog
- November 6, 2026: Initial edition — TradeTech and Cameco spot and term prices to October 2026, Sprott holdings and purchases, Cameco and Kazatomprom production, EIA US production and marketing figures, IEA capacity and construction, World Nuclear Association demand forecast, and NexGen Rook I project figures established.