An extract on armor performance written by Andrew Jaremkow
"Depleted uranium is for several reasons. First, it is cheap. The US has thousands of tons of it lying around as a result of the nuclear industry, so material costs are minimal, unlike tungsten which is significantly more expensive. Second, it is dense so it maintains velocity well down range and excellent penetrating power. Third, it is pyrophoric. When small fragments of uranium are exposed to air they burst into flames spontaneously, creating a useful incendiary effect inside target vehicles. The fourth reason has to do with the way uranium acts under pressure. When it is alloyed with small amounts of titanium, depleted uranium becomes susceptible to adiabatic shear, it forms very narrow bands of weakness under pressure and shears off along those lines. As a result, the front of a depleted uranium rod tends to flake off in small fragments during penetration, self sharpening leaving a sharp tip to face the oncoming armor. Tungsten alloys, on the other hand, do not fail by adiabatic shear. Although much research has been done to make them do so. Instead, the front end of a tungsten alloy rod squashes out into a broad mushroom shape during penetration. Since the tungsten alloy rod forms a wide nose, it has to force a more armor aside to penetrate. The narrow point of a depleted uranium rod makes a narrower, more energy efficient penetration. Thus, a depleted uranium rod can make a narrower deeper hole in the target than a tungsten alloy rod can with the same amount of kinetic energy."