Nuclear Fuel Supply Chain:

The nuclear fuel market is composed of uranium at each stage of the supply chain shown below. The product of uranium mining is U3O8 in a powder form, referred to as yellowcake. The U3O8 is then sent to a conversion facility, where it becomes UF6 in a gaseous form, and is then sent to an enrichment facility, where the amount of U235 in the UF6 is typically increased to between 3.5 and 5 percent through the addition of SWU (Separative Work Units). At the fabricator, the enriched uranium product (EUP) is sintered at a high temperature to form ceramic pellets, which are encased in metal tubes to form fuel rods.

Reprocessing facilities are able to recycle much of the used fuel into fresh fuel. Commercial reprocessing is not currently practiced in the US.