Ruthenium prices hit record high as AI boom squeezes supply
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Ruthenium prices have reached a record high of $1,750 per ounce due to supply constraints and increased demand driven by artificial intelligence applications in electronics and cloud computing. This marks a significant rise from $560 per ounce a year ago. Analysts predict a deficit of 203,000 ounces by 2026, as ruthenium is primarily produced as a by-product of platinum-group metal mining in South Africa, where production has been declining.
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