What it is
A heavy metal, traded as the oxide concentrate known as yellowcake. After conversion and enrichment it becomes the fuel of nuclear reactors.
How it is usually quoted
US dollars per pound of uranium oxide.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
Mostly long-term contracts between miners and power utilities; a small spot market is reported by price publishers, and CME lists a cash-settled contract.
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- Decisions to build, restart, extend or close reactors
- Production decisions by the largest miners
- The timing of utilities’ long-term purchases
- Conversion and enrichment capacity, and sanctions that affect it
- Buying by investment funds that hold physical uranium
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
Kazakhstan produces the most, followed by Canada, Namibia, Australia, Uzbekistan and Niger.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Uranium is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.