Uranium prices jumped 10 per cent to $76 per pound on Monday after Sprott Physical Uranium Trust (the world’s largest uranium fund) announced a purchase for a new physical uranium fund worth about $200 million, Trading Economics reported.
Uranium last traded at $76 in November-December 2024. since mid-December last year, prices began to decline to a lower $65 per pound as early as February.
Uranium prices began to recover in April-May 2025, after the US government signalled it would maintain domestic uranium enrichment capacity, reduce regulation of the industry, accelerate reactor licensing, and maintain trade restrictions on major nuclear fuel exporters. Demand was also supported by energy-intensive data centres, Trading Economics said.
Previously, Yellow Cake (a UK-based investment fund specialising in uranium investments) predicted for 2025 an increase in uranium market term contract volumes, especially among nuclear companies in the US, Asia Pacific, as well as an increase in uranium trading volumes in 2025, which could lead to price volatility.
The pullback in uranium prices in the first quarter of 2025 was due to geopolitical uncertainties, primarily U.S. trade policy, Yellow Cake reported.