Industrial demand for ruthenium intensified this week though most sales were done within the current trading range.
The Platts New York Dealer ruthenium price range remained at $180-$200/oz, with several sales reported in the $190-$195/oz range.
"This week, we saw some good two-way interest in the $190-$195/oz range; it looked like there was some band trading around that level," one PGMs refiner said Thursday, putting this week's range of physical deals at $185-$200/oz.
Industrial consumers constituted the majority of the buyers, while sellers were mostly speculative investors, a second PGMs refiner said, putting this week's range at $187-$195/oz.
A European dealer reported a small-quantity sale at $213/oz, but thought most of the deals this week occurred between $190/oz and $200/oz.
A US dealer also reported a small sale above $200/oz to an industrial consumer, but agreed that sales near $195/oz were possible given the level of buying and selling interest. The dealer put this week's range at $180-$205/oz.
UK refiner Johnson Matthey raised its ruthenium base price to $195/oz on Tuesday from $190/oz late last week and maintained that level the rest of the week.
"It tells you there is some demand out there, but they're being cautious," a second US dealer said of the JM increase, and put this week's range of deals at $185-$200/oz.
German refiner Engelhard Materials Services (BASF) kept its base price unchanged at $195/oz for the week.
Ruthenium prices rose sharply in the fourth quarter on industrial demand and some interest from speculative buyers as speculation grew about new applications.
But the market stalled near $185-$190/oz in early December, prompting some speculative investors to offer more metal to the market. Industrial consumers now appear to be returning for additional material, the second PGMs refiner said.
Ruthenium is used in the production of computer hard-disk drives and semiconductors, as well electrical contact and film chip resistors.
