Uranium Prices Fall as Global Supply Outlook Shifts Amid U.S.-Russia Talks

Uranium prices are falling again after a prolonged surge, with the trend influenced by ongoing U.S.-Russia negotiations over the war in Ukraine, Orda.kz reports.

According to Bloomberg, prices could drop further if sanctions on Russia are eased and Russian uranium returns to global markets, increasing supply. Tensions between the U.S. and Canada, another major uranium producer, are also contributing to uncertainty.

However, issues at Kazakhstan’s state uranium company could slow the price decline.

Uranium prices rose last week after Kazatomprom, the world’s largest producer, reported supply issues that may restrict access to sulfuric acid, a key component in nuclear fuel production.

Still, the uptick wasn’t enough to counter the broader trend. Compared to the start of 2024, when uranium peaked, prices have dropped by over a third. Since January 2025 alone, the metal has fallen by 11%.

Investors are seemingly growing wary amid geopolitical instability, awaiting more favorable market conditions.

Kazatomprom has long faced sulfuric acid shortages, though the company claimed to have resolved the issue last year. Despite ongoing challenges, the national company plans to produce 25,000–26,500 tons of uranium in 2025 — a 7–14% increase over 2024.

Original Author: Nikita Drobny