Nuclear fuel prices surge due to uranium conversion and enrichment bottleneck
The cost of nuclear fuel has surged in the past two years, primarily due to bottlenecks in uranium conversion and enrichment, exacerbated by the Russian invasion of Ukraine. While the price of raw uranium ore has doubled since early 2022, the prices for converted uranium hexafluoride have soared fourfold to $68/kg, and enriched uranium prices have tripled to $176 per separative work unit, according to UxC data seen by the Financial Times (FT). Russia’s significant…