2026 is poised to be transformative for uranium as tightening supply converges with robust demand from new reactor builds and life extensions, plus data center construction and a broader shift to clean energy. Despite these tailwinds, the U3O8 spot price remained muted for most of 2025, locked between US$63 and US$83 per pound; meanwhile, long-term contracting prices spent the majority of the year inching incrementally higher. For Justin Huhn of Uranium Insider, the long-term contracting price rise paired with a V-shaped recovery exhibited by equities during the second half of the year has set the stage for bullish growth. “In the background, the long-term U3O8 price, the three year forward, the five year forward price are all moving up. In fact, the long-term price is up from US$80 to US$86 on the year. That’s a very nice move.” He went on to explain that long-term uranium pricing usually goes through…
