Riding the AI tailwind, the demand for rare metal “ruthenium” has surged, with price increases surpassing those of gold and silver

With the development of artificial intelligence technology, the demand for the rare metal ruthenium has surged, with prices reaching $800 per ounce, close to historical highs. The application of ruthenium in electronics and energy storage has driven its demand, especially in hard disk drives. Analysts predict that as AI becomes more widespread and the demand for data storage increases, the supply of ruthenium will remain tight, potentially leading to a market shortage. Despite strong demand, the usage of ruthenium is minimal, and it is expected that the growth in hard disk sales this year will further boost ruthenium consumption