| Product | Region | Incoterm Basis | Price | Last Updated Month |
| Ruthenium | China | FOB | USD 50,637.00/KG | April 2026 |
| Ruthenium | India | FOB | USD 50,688.00/KG | April 2026 |
| Ruthenium | USA | FOB | USD 50,725.00/KG | April 2026 |
| Ruthenium | Germany | FOB | USD 50,764.00/KG | April 2026 |
| Ruthenium | Canada | FOB | USD 50,725.00/MT | April 2026 |
| Ruthenium | China | FOB | USD 48,920.00/KG | February 2026 |
| Ruthenium | USA | FOB | USD 45,968.00/KG | February 2026 |
| Ruthenium | Germany | FOB | USD 51,571.00/KG | February 2026 |
| Ruthenium | Canada | FOB | USD 45,968.00/MT | February 2026 |
Stay updated with the latest ruthenium prices, historical data, and tailored regional analysis
Ruthenium prices moved decisively upward in Q1 2026, culminating in record highs by mid-March as the market tightened on both structural supply limits and expanding technology-sector demand. Ruthenium exceeded ~ USD 1,700/oz in mid-March from approx USD ~500/oz a year earlier, reflecting an exceptional price escalation driven by scarcity and speculative as well as industrial buying. The strongest demand impulse came from AI infrastructure expansion, particularly higher hard disk drive production linked to rising cloud and data centre investments, where ruthenium is used in magnetic storage layers. On the supply side, the market remained highly vulnerable because ruthenium is produced only as a by-product of platinum-group metals mining, largely concentrated in South Africa. This left availability exposed to broader PGM mining weakness, with South African PGM output having declined by about~ 3.8% year on year, while long-term underinvestment in new mines further reinforced the bullish market structure.
Analyst insights
According to the procurement resource, the near-term outlook remains firmly bullish, with prices likely to stay elevated unless PGM output improves materially or downstream electronics and AI-linked procurement momentum softens.
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The Ruthenium price trend in the second half of 2025 reflected a period of sustained upward movement, as the metal continued to outperform most of its platinum group metal peers. Demand from AI-driven data centre expansion and high-density hard disk drive production remained the dominant force shaping market conditions. Memory chip production recovery also contributed to increased consumption, further stretching an already tight supply picture.
Ruthenium price analysis pointed to a market operating under persistent structural pressure, with the metal entering the period in its seventh consecutive supply deficit. Supply remained constrained, as ruthenium was produced primarily as a byproduct of platinum and nickel refining operations. South Africa accounted for the majority of global primary output, while overall annual production stayed limited, leaving little room to absorb rising industrial demand. According to the Ruthenium price database, trade activity reflected urgency among industrial buyers, particularly in the electronics and semiconductor sectors, where the metal served critical roles in advanced memory devices, electrochemical applications, and catalytic processes. The absence of centralized exchanges and major stockpiles contributed to market opacity, which further influenced procurement behaviour among end-users.
Ruthenium is a chemical element belonging to the platinum group of the periodic table, which is one of the rare transition metals . Like the other metals of the platinum group, ruthenium is inert to the most other chemicals as well. Ruthenium is generally found as a minor component of platinum ores.
Ru
Electrical Applications, Industrial Appliances, Building or Construction Materials
Ruthenium Black, Rutenio
Umicore N.V, BASF SE, Russian Platinum, Anglo American Platinum Limited, Johnson Matthey
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Ruthenium, being a member of the platinum group metals, is derived as a by-product from nickel and copper and platinum metals ore processing. Further, it is refined before its commercial use.
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