(Bloomberg) -- Demand for hard drives and for electrochemical applications has driven little-known ruthenium to the highest price in more than seven years. Soaring to $190 an ounce, according to Johnson Matthey Plc, it's more than quadrupled this year, outperforming all major commodities -- and it may have more to run. “This rally has legs,” Jonathan Butler, a precious metals strategist at Mitsubishi Corp. in London, said by email. “There's good industrial buying out there.”
To contact the reporter on this story: Eddie van der Walt in London at evanderwalt@bloomberg.net.
To contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Alex Devine, Nicholas Larkin
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