Ruthenium prices hit all-time high: Here we decode why

Ruthenium prices hit all-time high: Here we decode why

Ruthenium, a minor metal in the platinum-group metals (PGMs) group, has hit an all-time high price due to supply constraints and rising demand from artificial intelligence (AI).

The metal is commonly used in electronics, semiconductors, and chemical processing.

Its demand is particularly surging due to AI-driven data storage and cloud computing technologies.

Hard disk production driving up prices

The expansion of data center capacity is driving up hard disk drive production, which uses ruthenium in its magnetic layers.

This increased usage has contributed to a surge in ruthenium prices.

According to LSEG data cited by Johnson Matthey, the price of ruthenium was around $1,750 per ounce on March 13, up from just $560 per ounce a year ago.