Uranium Unleashed Podcast

In this Week in Review for July 6 through July 10, 2026, we look past the stagnant $85 per pound spot price to uncover the real structural shifts moving the nuclear industry. While the surface-level market appeared quiet, the "first-derivative trade" of the decade became clear: enrichment scarcity is now the primary constraint on Western nuclear expansion. We analyze why the industry is pivoting f...

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Episode Summary: This episode of the China Nuclear Builds Weekly Update breaks down the staggering scale of China’s civil nuclear expansion. As of July 2026, the country’s operational civil nuclear fleet has reached approximately 62 power reactors with a combined net capacity of 61.2 GWe, trailing only the United States. With an additional 36 to 39 reactors (totalling 37–39 GWe) currently under ac...

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The growing chasm between uranium’s sleepy spot market and its surging long-term contract market reveals a Western fuel cycle bracing for a structural supply crisis. While spot prices quietly drifted within an $84 to $87 band to close the week near $85.70 per pound , long-term contract prices held firm at $94 per pound . This nearly $9 spread represents the widest sustained gap of the entire cycle...

This Substack is reader-supported. To receive new posts and support my work, consider becoming a free or paid subscriber. The uranium market’s mid-week dynamics center on an emerging “execution gap” that tests investor patience even as the structural supply thesis remains intact. I have compiled these core themes into a polished set of show notes with high-CTR titles, structured discussion points,...

Show Notes June 28, 2026 Fleet Status and Strategic Targets Operational Capacity: As of late June 2026, China operates approximately 62 commercial nuclear units with a gross capacity exceeding 60 GWe, making it the second-largest fleet in the world. Construction Pipeline: China leads the world with over 39 units (~37.3 GW) currently under construction, a position it has held for 19 consecutive yea...

⚛️Uranium Unleashed: The June 30 Pivot Point 2 sources·Jun 28, 2026 This report examines the critical financial and regulatory developments facing the uranium market during the final week of June 2026. The primary focus is June 30 , a pivotal date featuring an annual meeting for NexGen Energy , a major government deadline for HALEU fuel production , and the close of the second quarter. Investors a...

Week in Review (Total Run Time: ~11 Minutes) [00:00] Cold Open: Capital, Policy, Convergence The week saw a historic shift as $17.5 billion was committed by the U.S. government to jumpstart reactor construction. Simultaneously, Canada launched its sovereign strategy, and Walmart entered the nuclear procurement market. [01:15] Segment 1: The Number — Spot Market vs. Structural Signals The Figures:...

📜 Episode Show Notes Introduction: State-Backed Infrastructure vs. Retail Hype How sovereign capital and primary producer discipline are establishing a hard, long-term price floor for uranium. The transition from short-term commodity speculation to strategic, decades-ahead positioning by state-backed entities. Uncle Sam's $17.5 Billion Capital Injection Breaking down the U.S. Department of Energy...

1. The Unprecedented Scale of the Expansion The Global Leader in Construction: China is currently operating 62 reactors and constructing an additional 39+ units, totaling approximately 37.3 GWe. The 110 GWe Target: Under the 15th Five-Year Plan, China is targeting 110 GWe of nuclear capacity by 2030, with an ultimate aspirational policy goal of 200 GW by 2035. If met, nuclear power could contribut...

This week on the show, we dive into a critical 'signals over numbers' week for uranium. With major corporate earnings on pause, we unpack the geopolitical and policy forces driving the market, starting with the first full week of US-Iran nuclear negotiations and how they might reprice the spot premium. Then, we look to Astana for Kazatomprom's high-stakes EGM to see if the world’s largest producer...

⏱️ Show Notes: Chapter Markers & Timeline 00:00 – Introduction & Cold Open We open with the widening gulf between the spot market and long-term utility activity. Host A introduces the core thesis of the episode: at $85/lb, it is not the front-month price that matters right now—the real action is happening off the spot screen. 02:15 – Segment One: The Number We unpack the current consolidation rang...

Episode Summary In this mid-week review, we examine a critical stress test for the uranium bull case. As a U.S.–Iran framework reopens the Strait of Hormuz, the expected "peace dividend" sell-off in physical uranium failed to materialize. While equities rallied on geopolitical relief, the spot price remained flat at $86.10 , signaling that the market's structural constraints are independent of Mid...

Editor's Note (June 2026): We deliberately delayed our Q1 review to let the geopolitical dust settle on the February/March energy crisis. Now, with the benefit of hindsight and data showing spring price stabilization, we look past the speculative panic to reveal why the long-term uranium thesis is stronger than ever. Uranium broke $100 a pound in January—then a war crashed it 16% in a single week....

Episode Summary The week of June 15, 2026, is shaping up to be a geopolitical masterclass dressed up as a quiet trading week. While the corporate calendar is light on earnings, the single largest variable hanging over the uranium market moved decisively on Friday: the United States and Iran agreed to the final text of the Islamabad Declaration . This framework plans to demine the Strait of Hormuz...

🎙️ The Race for Western Nuclear Fuel Sovereignty Episode Title: Rebuilding the Fuel Cycle: The 48-Minute Masterclass on Geopolitical Risk and Domestic Capitalization Podcast Series: Uranium Unleashed — Week in Review Hosts: Two Elite Nuclear Macro Strategists (Host A & Host B) Air Date: Week of June 12, 2026 📋 Executive Summary This 48-minute masterclass goes far beyond high-level headlines to co...

Uranium Unleashed — Mid-Week Review (June 10, 2026) Episode Summary In this Mid-Week Review, hosts Alex Reed and Jordan Voss break down the structural realities of the uranium market as of June 10, 2026. Despite significant capital flowing into Western uranium supply this week, every dollar committed confirms that the structural supply deficit will not be resolved before 2028 at the earliest. We e...

This Substack is reader-supported. To receive new posts and support my work, consider becoming a free or paid subscriber. SUMMARY If you think the AI boom is just about semiconductors, you are missing the most critical bottleneck: electricity. In this episode, we unpack why tech hyperscalers like Meta and Microsoft are aggressively scrambling to lock in nuclear baseload power, and why Goldman Sach...

Show Notes: Uranium Unleashed — Week Ahead (June 8–12, 2026) Episode Focus: A transition from market sentiment to hard data and geopolitical reality. Key Topics & Segments: The Week in Frame: The uranium market has been running on strong sentiment—such as Goldman Sachs' SMR demand upgrades and Cameco deals—but this week tests the structural supply constraint thesis against real production numbers...

This week's market review reinforces the core thesis that the uranium sector's durable price floor is driven by a long-term structural supply deficit, rather than short-term spot price speculation. The review breaks down three major market drivers: NexGen Energy's upcoming mine construction, a massive demand forecast upgrade from Goldman Sachs regarding Small Modular Reactors (SMRs), and critical...

Uranium Unleashed Issue #7 (May 30, 2026) reports that while the uranium spot price saw a slight pullback to $84.50 per pound, the long-term fundamentals remain exceptionally strong. The market is driven by major catalysts, including NexGen Energy preparing for summer construction, Cameco securing a massive long-term contract with India, and Goldman Sachs forecasting a 2.3 billion pound cumulative...

The United States wants to lead the world in advanced nuclear energy, aiming to add 200 gigawatts of domestic capacity by 2050. But there’s a massive problem: it has almost no domestic uranium mining, only one conversion plant, and lacks commercial-scale enrichment capacity for the advanced fuels (like HALEU) required for next-generation reactors. To fill the void and break its heavy reliance on R...

Episode Title: China's Global Uranium Pursuit: Securing the Nuclear Fuel Cycle Episode Summary: In this episode, our hosts examine the global rush for uranium as the world eyes a nuclear energy renaissance. With uranium prices surging and strategic stocks low, we explore how China is executing a highly coordinated, state-directed strategy to lock down the global nuclear fuel cycle. From massive ac...

Supply Impact: Niger Coups vs. Cameco Flooding — An Unequal Frame Episode Summary This episode dissects the framing asymmetry in how the uranium industry and broader commodity markets process risk, specifically comparing the market's reaction to Niger's political coups versus the recent transport infrastructure failure at Cameco's McArthur River and Key Lake operations in Saskatchewan. Key Segment...