TradeTech's Long-Term Price Indicator Reached $99.00 Per Pound U3O8 on October 31
Uranium’s long-term price has climbed to a level unseen in the three decades since industry consultant TradeTech began tracking it — a signal that sellers are digging in on both price and contract terms as nuclear demand projections grow.
This is the highest level recorded for the long-term uranium price since TradeTech introduced its Long-Term Uranium Price Indicator in 1996”— TradeTech President Treva Klingbiel
As activity in the long-term uranium market kept gathering strength through 2026, TradeTech‘s monthly Long-Term Uranium Price Indicator hit an all-time high of US$99.00 per pound of uranium oxide (U3O8) on October 31, the company reported.
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TradeTech President Treva Klingbiel confirmed the milestone: “This is the highest level recorded for the long-term uranium price since TradeTech introduced its Long-Term Uranium Price Indicator in 1996,” she said.
For context, the indicator stood at just $16.50 per pound U3O8 when TradeTech launched it at the end of March 1996 — meaning the benchmark has multiplied several times over over the past three decades.
Klingbiel pointed to shifting contract dynamics behind the rise. “Base prices in long-term contracts are higher in recent transactions,” she continued. “Announcements projecting an increase in worldwide nuclear generating capacity along with other supportive policy commitments have encouraged sellers to take a firmer stance, not only on their pricing positions, but also on terms and conditions that previously may have been more favorable to the buyer.”
According to TradeTech, the Long-Term Price Indicator for uranium reflects its judgment of the base price at which transactions for long-term delivery of that product or service could be concluded as of the last day of the month, for transactions in which the price at the time of delivery would be an escalation of the base price from a previous point in time.
About TradeTech
TradeTech—and its predecessor companies—has supported the uranium and nuclear fuel cycle industry for more than 50 years and is widely recognized for its expertise in trading activities and its comprehensive knowledge of the technical, economic, and political factors affecting this industry. TradeTech provides expert market consulting, has relationships with international nuclear fuel buyers and sellers, and maintains an extensive information database on these industries.
TradeTech’s Long-Term Uranium Price Indicator is the company’s judgment of the base price at which transactions for long-term delivery of uranium could be concluded as of the last day of the month, for transactions in which the price at the time of delivery would be an escalation of the base price from a previous point in time.
The company’s "Nuclear Market Review" (NMR) is published each Friday evening, and reports the Weekly Uranium Spot Price Indicator, uranium trading activity, industry news, and market data. The monthly edition of the NMR, released on the last day of each month, includes TradeTech Market Values (Exchange Value, UF6 Value, Loan Rate, Conversion Value, SWU Value, and Transaction Value) and Mid- and Long-Term Uranium Price Indicators and Production Cost Indicator, as well as analysis related to price determinations, supply/demand information, and industry and financial news. TradeTech also publishes "The Nuclear Review," a monthly trade publication dedicated to the international uranium and nuclear energy industry, and a quarterly “Uranium Market Study.”
Treva Klingbiel
TradeTech
+1 303-573-3530
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Why it matters: A long-term price near $99 per pound — versus $16.50 when the indicator launched in 1996 — shows that utilities and suppliers are locking in delivery terms at levels far above historical norms, with sellers gaining leverage over contract conditions. With nuclear capacity announcements and policy support cited as drivers, the benchmark’s record high suggests the market expects sustained demand for uranium well into the future.
