Ukraine Invasion Results in Raw Materials Price Surge
March 11, 2022 – The price of multiple raw materials, including Crude Oil, Palladium, Nickel, Aluminum, and Copper have skyrocketed to the highest they’ve been in the past decade as a result of Russia’s invasion of Ukraine.
Russia and Ukraine have a dominant position in the global raw material market. This new price increase comes as a result of the lack of raw materials being exported from these two countries.
Also, manufacturers are looking at alternatives, such as using platinum to replace palladium. This increased demand in platinum is also reflected in the rising prices of platinum per ounce. It will be important to also track the markets, pricing and availability of correlated raw materials to those affected directly by Russia’s invasion.
SiliconExpert has compiled a list of the raw materials and their corresponding price spikes.
Raw Material Price Surges
|Raw Material||Price Increases||Common Uses|
|Palladium||$3,084/ounce as of 3/10/22||Catalytic Converters, Ceramic Capacitors, Flash Memory, Computers, Cell Phones, Broadcast Equipment|
|Nickel||$100,000/ton on 3/8/22||Stainless Steel, Lithium-ion Batteries|
|Oil||$140/Barrel on 3/7/22||Gasoline, Heat Source, Plastics, Jet Fuel|
|Aluminum||$4,026.50/ton on 3/7/22||Construction, Power Lines, Consumer Electronics, Household Appliances|
|Copper||$10,845/ton on 3/7/22||Wiring, Motors, Construction, Industrial Machinery|
|Gold||$2000/ton on 3/10/22||Safe Haven Investment|
ADAPT AND OVERCOME SUPPLY CHAIN DISRUPTIONS
SiliconExpert’s Supply Chain Module is designed to help you closely monitor situations that have the potential to impact the global economy and provides you alternatives to keep your supply chain intact. SiliconExpert is maintaining a close eye on manufacturers and businesses with facilities located in Russia and Ukraine to help you understand how your business might be impacted.