Spot reference
A published price assessment is a reference point. It is not a public exchange order book or an offer from this site.
Model an assumptionMarket intelligence
Understand the price.
Understand the terms.
A structured guide to uranium market references and the factors that a single price cannot describe.
Dated reference, clear context
Two indicators.
Different perspectives.
Cameco’s published averages for 30 October 2026 are US$91.55/lb U₃O₈ for spot and US$98.00/lb U₃O₈ for long-term. These observations do not establish the price of a particular transaction.
| Reference | US$/lb U₃O₈ |
|---|---|
| Spot indicator | 91.55 |
| Long-term indicator | 98.00 |
Source: Cameco’s monthly table. Reviewed 11 November 2026. No automatic refresh.
Long-term terms
Delivery years, escalation, indexation and other negotiated provisions can make contract economics differ from an indicator.
See delivery contextRisk and timing
Product form, delivery location, transport, conversion capacity and counterparty conditions require their own assessment.
Read the evidenceMethodology & limitations
Cameco states that it calculates industry averages using month-end prices published by UxC and TradeTech. We reproduce only the single dated observation above. The reference is in US dollars per pound of U₃O₈; it is not a price per pound of uranium metal.
Prices are a manually maintained snapshot. The observation date remains visible even as the page ages. Any reuse or redistribution of an underlying commercial data feed would require a separate rights review.
Questions to take into a commercial discussion
- What material, specification and unit does the price refer to?
- Which delivery period, place and pricing provisions apply?
- Which additional fuel-cycle, transport, finance and tax costs sit outside the material price?
- What evidence supports the production and delivery assumptions?
Sources: Cameco · Undated; observation 30 October 2026 / Cameco · Undated; reviewed 11 November 2026 . Reviewed 11 November 2026.
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