Year-by-year annual average price for uranium in USD/lb U₃O₈, sourced from U.S. Geological Survey / World Bank Commodity Price Data. Uranium oxide (U₃O₈), spot price; peaked $138/lb in 2007 — now nuclear renaissance.
Uranium is the fuel for nuclear power, providing approximately 10% of global electricity with near-zero carbon emissions. Nuclear is increasingly recognized as essential to achieving climate goals. Demand is driven primarily by Nuclear power plant fuel (enriched uranium oxide), Naval nuclear propulsion reactors, Medical radioisotope production. Supply is concentrated in Kazakhstan, Namibia, Canada, so output disruptions or trade-policy shifts in those countries are the main long-run drivers of Uranium prices.
Uranium prices fell -9.8% from 2023's $92 per USD/lb U₃O₈ to $83 per USD/lb U₃O₈ in 2024.
Uranium prices rose +67.3% from 2022's $55 per USD/lb U₃O₈ to $92 per USD/lb U₃O₈ in 2023. That was the highest 2023 reading in 15 years.
Uranium prices rose +31.0% from 2021's $42 per USD/lb U₃O₈ to $55 per USD/lb U₃O₈ in 2022. That was the highest 2022 reading in 13 years.
Uranium prices rose +40.0% from 2020's $30 per USD/lb U₃O₈ to $42 per USD/lb U₃O₈ in 2021. That was the highest 2021 reading in 8 years.
Uranium prices rose +20.0% from 2019's $25 per USD/lb U₃O₈ to $30 per USD/lb U₃O₈ in 2020. That was the highest 2020 reading in 4 years.
Movement summaries above are calculated directly from the annual averages shown in the table. Critical Minerals HQ does not attribute price moves to specific events except where backed by sourced reporting.
| Year | Average Price (USD/lb U₃O₈) | YoY Change |
|---|---|---|
| 2024 | $83 | -9.8% |
| 2023 | $92 | +67.3% |
| 2022 | $55 | +31.0% |
| 2021 | $42 | +40.0% |
| 2020 | $30 | +20.0% |
| 2019 | $25 | -7.4% |
| 2018 | $27 | +22.7% |
| 2017 | $22 | -21.4% |
| 2016 | $28 | -22.2% |
| 2015 | $36 | +12.5% |
| 2014 | $32 | -15.8% |
| 2013 | $38 | -20.8% |
| 2012 | $48 | -7.7% |
| 2011 | $52 | +15.6% |
| 2010 | $45 | +2.3% |
| 2009 | $44 | -32.3% |
| 2008 | $65 | -52.9% |
| 2007 | $138 | +206.7% |
| 2006 | $45 | +60.7% |
| 2005 | $28 | +55.6% |
| 2004 | $18 | +50.0% |
| 2003 | $12 | +33.3% |
| 2002 | $9.00 | +28.6% |
| 2001 | $7.00 | +0.0% |
| 2000 | $7.00 | — |
Source: U.S. Geological Survey / World Bank Commodity Price Data. Uranium oxide (U₃O₈), spot price; peaked $138/lb in 2007 — now nuclear renaissance
The most recent annual average we track is $83 per USD/lb U₃O₈ for 2024. Live spot prices are shown on the Uranium live-price page.
down -9.8% — from $92 per USD/lb U₃O₈ in 2023 to $83 per USD/lb U₃O₈ in 2024.
up +232.0% — from $25 per USD/lb U₃O₈ in 2019 to $83 per USD/lb U₃O₈ in 2024.
up +159.4% — from $32 per USD/lb U₃O₈ in 2014 to $83 per USD/lb U₃O₈ in 2024.
Uranium is the fuel for nuclear power, providing approximately 10% of global electricity with near-zero carbon emissions. Nuclear is increasingly recognized as essential to achieving climate goals. Demand is driven primarily by Nuclear power plant fuel (enriched uranium oxide), Naval nuclear propulsion reactors, Medical radioisotope production. Supply is concentrated in Kazakhstan, Namibia, Canada, so output disruptions or trade-policy shifts in those countries are the main long-run drivers of Uranium prices.
The highest annual average uranium price in our recorded series was $138 per USD/lb U₃O₈ in 2007.
U.S. Geological Survey / World Bank Commodity Price Data. Uranium oxide (U₃O₈), spot price; peaked $138/lb in 2007 — now nuclear renaissance