Uranium Outlook 2018: Market Braces for Rise in Demand

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2017 was a rough year for uranium prices, but analysts and company execs are optimistic that prices will increase in 2018. 

The U3O8 spot price was at $22 per pound as of November 27, says UxC. That’s up from $19.25 on June 14, but down from $26.68 on February 1.

However, the combination of higher demand and a decrease in the supply gut is expected to “send uranium prices 50 percent to 100 percent higher within three years.” In fact, FocusEconomics says in a report published in early December that its panelists predict that prices will average $26.10 in Q4 2018 and $33.50 in Q4 2019.

Read on to learn more about what market watchers think will happen to uranium in 2018. You can also click here to read about key uranium trends in 2017.

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Uranium Price Forecasts 2017 and Top Uranium Stocks to Watch

Industry experts are excited about the fate of uranium this year. Find out why in your free report.

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Uranium outlook: Oversupply to fall

In 2017, persistently low U3O8 prices prompted a number of high-profile supply cuts. At the beginning of the year, Kazatomprom said it would reduce its uranium output for the year by 2,000 tonnes. While the move was initially hailed as a “game changer,” the price boost it caused did not last long.

However, further cuts toward the end of the year have spurred hopes that surplus U3O8 will begin to come off the market in 2018. First, major uranium producer Cameco (TSX:CCO,NYSE:CCJ) announced plans to suspend production at its McArthur River mine and Key Lake milling operations by the end of January 2018; then Kazatomprom said it would reduce its output by 20 percent over the next three years

Mike Alkin of the Continue Reading

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