In 2024, the UK's uranium and thorium trade balance is projected to be 2.04 thousand metric tons. The forecast figures show a steady decline from 2024 to 2028, reflecting a decrease of approximately 9.8% annually, with the balance expected at 1.27 thousand metric tons by 2028. Year-on-year, this represents an average reduction of approximately 10% per year, showcasing a consistent downward trend in the trade volume.
Future trends to watch for include geopolitical influences on uranium and thorium supply, technological advancements affecting supply efficiency, and shifts in UK energy policy that may impact the demand and trade balance for these materials. Additionally, global shifts towards renewable energy may accelerate declines in demand for traditional nuclear materials.
