PodcastUranium Spotlight: Nuclear's Resurgence in a Clean Energy WorldOctober 20, 2026
October 20, 2026: Contracts come before new mines
Term contracting, not spot price, now signals whether new Western uranium supply gets funded—and producer nations are hoarding pounds domestically.
- Spot vs term divergence: Spot U3O8 closed at $90/lb on just four deals and under 1M lbs traded, while 2026 term contracting hit 80.4M lbs vs 44M lbs same point last year.
- Q4 contracting lagging: Only ~2M lbs signed in Q4 2026 so far vs ~70M lbs in Q4 2025, with no award over 15M lbs disclosed; long-term price $96/lb.
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