Ruthenium Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Ruthenium in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Ruthenium Price Trend for the Second Half of 2023

Ruthenium is frequently utilized in electronics and catalytic converters, and thus, pricing dynamics are driven by changing industrial trends. Its demand is directly related to the manufacturing of electronics and automobiles.

Ruthenium Price Chart

Ruthenium Price Trends

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The demand for ruthenium is impacted by variations in car production, especially in areas like China and Europe. Its market dynamics are also heavily influenced by developments in electronics technology and applications of renewable energy. Changes in these industries may impact supply levels of nickel and platinum, which are byproducts of their mining.

The rare earth metal prices reached their lowest point in the initial phase of H2 of 2023 but rebounded gradually in the later months of the year. The drop in prices in 2023 was attributed to increased production in China and sluggish demand growth amid the country's post-pandemic economic recovery. However, the downward trend was only for a limited time frame as the electric vehicles and automotive sector drove the demand for Ruthenium in an upward direction.

The traders indicate a global deficit in rare earth metals for 2024, reversing the surplus observed in the previous year. Analysts anticipate that rising demand from electric vehicle sales and wind turbine production will help absorb excess supply by the end of 2024. Although China increased its rare earth output quotas in 2023, future quota expansions are expected to be more conservative, potentially stabilizing the market.

Analyst Insight

According to Procurement Resource, the price of Ruthenium is estimated to stabilize in the forthcoming quarters as the mined produce will be able to meet the growing demand for the commodity.

Ruthenium Price Trend for the First Half of 2023

Ruthenium is a member of the rare earth metals family that has high corrosion resistance and electrical conductivity. Ruthenium is employed in the electronics sector that utilizes thin film resistors along with several chemical processes that utilize it as a catalyst. Additionally, it serves as a layer of magnetic recording media used in the production of hard disk drives.

In the Asia Pacific sector, China banned the import of rare earth metals due to the weak demand in its domestic region. The performance of the downstream industries remained feeble as the automotive and magnets sectors struggled with their number of sales. The economic condition of the market also suffered from the failure of two major US banking units that had a negative impact on the purchasing potential of buyers and thus led to the fall in the price trend of the majority of rare earth metals, including Ruthenium.

Analyst Insight

According to Procurement Resource, the price of Ruthenium is expected to decline as the demand from the automotive sector and the condition of the global economy do not seem to support the rise in the market sentiments of Ruthenium.

Procurement Resource provides latest prices of Ruthenium. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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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.

Product Details

Report Features Details
Product Name Ruthenium
Industrial Uses Electrical Applications, Industrial Appliances, Building or Construction Materials
Chemical Formula Ru
Synonyms 7440-18-8, Ruthenium black, rutenio
Molecular Weight 101.1 g/mol
Supplier Database Umicore N.V, BASF SE, Russian Platinum, Anglo American Platinum Limited, Johnson Matthey
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-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.

Production Process

  • Production of Ruthenium Via Extraction as By-Product

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.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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