Against the backdrop of Russia's invasion of Ukraine, futures prices for palladium, a rare metal used for industrial and medical purposes, hit a new high during trading hours on the 7th, and wheat prices also reached their highest level in 14 years. It is feared that rising prices will have a negative impact on the global economy.
On the 7th, the New York Board of Trade temporarily raised the price of palladium futures to $ 3,425 per troy ounce, hitting a record high during trading hours last May for the first time in 10 months.
Palladium is a highly rare metal used for industrial and medical purposes such as automobile emission control and silver teeth, and Russia is known as one of the world's leading producers.
Prices are skyrocketing due to concerns about supply stagnation from Russia, which is subject to severe economic sanctions due to military invasions.
Also, on the Chicago Board of Trade, the international index wheat futures price temporarily rose to $ 12.94 per bushel, the highest level in 14 years since March 2008.
There is growing concern that exports from Ukraine and Russia, the world's leading wheat exporters, will stagnate.
The price of a wide range of things, including energy-related ones, has risen in the wake of Russia's military invasion of Ukraine, and if this situation persists, it could become a major concern for the world economy.