December 9, 2009.  In the last month ruthenium EIB prices have taken a healthy uptick from US$95/toz to today’s opening price of US$160/toz.

Recent changes in Ruthenium pricing (graphic from BASF Catalysts)

 My understanding is that central banks are buying gold and smaller investors are following suit, energizing the dramatic uptick in gold prices. The flight from paper to metal is thought by some to spill over to speculation in PGM’s as well. So, the ruthenium surge in pricing may be less an indicator of industrial vitality and more an artifact of investor nervousness.