Ukraine Invasion Results in Raw Materials Price Surge

By: SiliconExpert on March 11th, 2022

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 MaterialPrice IncreasesCommon 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

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. 

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