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.