Uranium Price Surges above $100 as Supply Deficit Gathers Strength

Uranium prices have pushed back into triple-digit territory, reinforcing a shift in market structure after more than a decade of underinvestment.

The move reflects tightening physical supply, accelerating utility demand, and renewed institutional participation, reshaping expectations for the nuclear fuel market in 2026 and beyond.

Uranium Price Vindicates Structural Strength

According to the Trading Economics uranium chart, the spot prices are more or less at the level of $99.25 per pound, after experiencing a minor 2.27% daily pullback. Although the recent retractions occurred in the short-term, the larger trend is positive.

The precious metal has been moving steadily since mid-2025 and set higher lows and reclaimed major resistance areas that had limited price movements in the past. It is an indication of controlled consolidation as opposed to trend exhaustion.

Uranium has been trading in an escalating long-term pattern where it has more lows and breaks the $100 level once again after many years of stalemate. Graph through Trading Economics, January 2026.

The new revival above the $100 psychological mark has given additional importance to the rally. Since 2007, this zone has not been maintained as regularly and, therefore, its return is some structural development.

This is accelerated by the announcement by Sprott Physical Uranium Trust of 500,000 pounds of uranium purchases as well as a $214 million capital raise. Hopes that such capital will be quickly invested in further physical purchases have added to the stricter conditions on the spot markets.

The liquidity is not speculative and is liquid, as the trading volumes and price responsiveness are shown. The market has also exhibited the rapid dips and subsequent stabilization, other than sharp distribution, indicating continuous absorption of supply. Analysts are setting $100 as a short-term limit, more like a floor that is being built based on the current market events.

Shortage of Supply Shows Signs of Potential Breakout Phase

In a post on X, financial analyst Lukas Ekweme highlighted that uranium is approaching a breakout above its 2024 high, emphasizing that price pressure continues to build despite short-term volatility. His chart shows uranium compressing beneath resistance before accelerating sharply, a pattern often associated with continuation rather than exhaustion.

Uranium has been shrinking close to its 2024 peak after a multi-year ascending trend and this is an indication of breakout potential due to the continued supply limits. Lukas Ekweme Via X, January 30, 2026.

In addition to technical structure, the price recovery goes in line with the increasing belief that the supply of the token is structurally beyond the ability to ameliorate swift demand increases. In a research report presented by Teniz Capital, the token market in the world has been said to have reached a deficit stage, which may not be won in the coming decade.

The long project lead times, according to the firm, which can take 10-20 years to discover and then produce a product,t imply that shortages in the future are already in the supply curve.

The report described the present situation as a tipping point, with the warning that utilities that are not making long-term contracting now will have mounting difficulty in obtaining material towards the end of the decade.

The need estimates support this perception. The world uranium consumption is projected to grow approximately 28 percent by the year 2030 and more than 200% by the year 2040. The core causes of this perspective include reactor building in China and India, renewed Western policy backing of nuclear energy, the data center-generated electricity world boom, and artificial intelligence infrastructure.