Ruthenium Prices

Ruthenium Prices H2 ​​​​​2023

In the second half quarter of 2023, the price of ruthenium in the United States reached 468 USD/Troy Ounce.

Ruthenium Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Ruthenium Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of ruthenium pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of ruthenium at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of ruthenium price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing ruthenium price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Ruthenium Market Analysis

The global ruthenium market size reached 30.95 Tons in 2023. By 2032, IMARC Group expects the market to reach 43.29 Tons, at a projected CAGR of 3.80% during 2023-2032.

• The rapid growth in the electronics industry, particularly in the production of hard disk drives, thick-film chip resistors, and plasma display panels, is acting as a significant driver of the market. Ruthenium is used to enhance the hardness of platinum or palladium for wear-resistant electrical contacts and is also used in the production of superalloys. According to the data from Invest India, electronic sports have become the 5th largest export commodity group as of March 2024. Domestic production of electronics is valued at $ 101 billion in FY23 and is segmented (based FY22 data) as Mobile Phones (43%), IT Hardware (5%), Consumer Electronics (12%), Strategic Electronics (5%), Industrial Electronics (12%), Wearables& Hearables (0.3%), PCBA (0.7), Auto Electronics (8%), LED Lighting (3%) and Electronics Components (11%). 1.3 Bn consumers engaged in rapid urbanization and digitization with increasing penetration of electronic products.
• The extensive use of ruthenium as a catalyst in various chemical reactions, such as the Chlor-alkali process is contributing to the market growth. Ruthenium is used in the production of chlorine and other chemicals which is accelerating the market demand. For instance, in February 2023, Covestro successfully launched a new facility in Tarragona, Spain, to produce chlorine on a world scale. The facility is unique as it uses the energy-efficient oxygen-depolarized cathode (ODC) technology that was developed by Covestro in collaboration with thyssenkrupp nucera. The use of ODC technology lowers the voltage required for production, resulting in energy savings of up to 25% when compared to conventional chloralkali electrolysis.
• The extensive usage of ruthenium in the aerospace and electrochemical industries is another factor driving the market expansion. For instance, in April 2024, Onsemi announced the availability of the CEM102, a state-of-the-art miniaturized analog front-end (AFE) that enables electrochemical sensing with the highest accuracy at very low currents. With its small form factor and the industry’s lowest power consumption, it allows engineers to create versatile and compact solutions for industrial, environmental, and healthcare applications such as air and gas detection, food processing, and agricultural monitoring as well as medical variables such as continuous glucose monitors.

Ruthenium News

The report covers the latest developments, updates, and trends impacting the global ruthenium market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the ruthenium price trend.

Latest developments in the ruthenium industry:

• In July 2023, Vale signed a binding agreement with Manara Minerals, a joint venture between Ma’aden and Saudi Arabia's Public Investment Fund, under which Manara Minerals will invest in Vale Base Metals Limited (VBM), the holding entity for Vale’s energy transition metals business, at an implied enterprise value of US$ 26 billion.
• In May 2024, Implats announced its partnership with Siyanda Resources Proprietary Limited (Siyanda Resources), which will lead the participation of the strategic empowerment consortium.

Product Description

Ruthenium refers to a hard, rare, and brittle white element belonging to the platinum metal group.

This metal is employed to harden platinum and palladium, and its symbol is Ru.

It has an atomic number of 44 and an atomic weight of 101.07.

It is resistant to corrosion and has a melting point of 2334°C and a boiling point of 4150°C.

The element is found in platinum ores and is used in various applications, including wear-resistant electrical contracts and thick-film resistors.

It is also used in platinum alloys and as a catalyst in chemistry.

Ruthenium was discovered by Karl Ernst Claus in 1844 at Kazan State University and named after Ruthenia, the Latin name for Russia. The annual production of ruthenium has risen from about 19 tonnes in 2009 to 35.5 tonnes in 2017.

Regional Coverage

The report provides a detailed analysis of the ruthenium market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the ruthenium price trend.

Global Ruthenium Price

The report offers a holistic view of the global ruthenium pricing trends in the form of ruthenium price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of ruthenium but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed ruthenium demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Ruthenium Price

Europe's ruthenium pricing trends are deeply affected by its stringent environmental regulations and the push towards sustainable and recycled materials. The automotive and aerospace industries in Europe, which demand high-quality specialty metals, further complicate the pricing landscape. Energy costs and the availability of renewable energy sources also significantly influence ruthenium production costs. Additionally, the region's dependency on ruthenium imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.

Detailed price information for ruthenium can also be provided for an extensive list of European countries.

North America Ruthenium Price

In North America, ruthenium prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability. Furthermore, trade policies, particularly those involving major trade partners like Canada and Mexico, heavily influence ruthenium supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.

Specific ruthenium historical data within the United States and Canada can also be provided.

Middle East and Africa Ruthenium Price

The ruthenium pricing trends in the Middle East and Africa are increasingly impacted by infrastructural developments and investments in the construction and transportation sectors. The region’s political climate and its effect on operational stability and security are also crucial in determining price trends. Additionally, the Middle East's strategic initiatives to diversify away from oil dependency and invest in mining and metal production capabilities are reshaping its market dynamics. In Africa, the availability of resources combined with foreign investment in mining projects heavily influences local and global ruthenium supply and prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Ruthenium Price

In the Asia Pacific region, ruthenium pricing dynamics are significantly influenced by robust industrial growth and expanding manufacturing sectors, particularly in China and India. The region's high demand for metals is driven by its active construction industry and increasing investments in infrastructure projects. However, supply disruptions due to geopolitical tensions and regulatory changes in mining practices also play a critical role in shaping price fluctuations. Additionally, trade policies and import-export tariffs continue to impact the cost structures and availability of ruthenium, making the Asia Pacific market a complex environment for price trend analysis.

This ruthenium price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Ruthenium Price

Latin America's ruthenium market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in ruthenium prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing ruthenium pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of ruthenium pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting ruthenium price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The ruthenium price charts ensure our clients remain at the forefront of the industry.