US uranium futures hold near $90 after recent peak
US uranium futures were around $90 per pound, remaining close to the over six-month high of $90.6. Supply outlook faced uncertainty as Kazatomprom’s TQZ sulphuric acid plant delays limited leaching capacity.
6 reached on August 26th as supply risks and strong demand supported the market. Kazatomprom, the world's largest uranium producer, said uncertainty has increased around yellowcake supply after delays at its TQZ sulphuric acid plant, which limit capacity for leaching uranium. The producer also said demand was accelerating as large economies kept investing in nuclear power to meet decarbonization goals and reduce exposure to volatile commodity markets amid geopolitical tension in Russia and the Middle East.
Italy was the latest to move toward approval of a legal framework to restore nuclear power, following measures from the US and Japan as power consumers seek more generation to meet higher demand from data center projects. Meta, Amazon and Microsoft signed agreements to secure fresh nuclear capacity for future AI data center operations.