A new metal crisis: Prices may explode all over the world

Factories in energy-intensive sectors in Europe continue to close. The production crisis is growing in aluminum, which is among the sectors most affected by this situation.

Some of the companies struggling with energy costs closed their factories, while others reduced production. Finally, a closure decision came from Romania. On the Continent, production fell to its lowest levels since the 1970s.

President of Romanian Aluminum Workers’ Union Constantin Popescuthe aluminum producer in the country “Alro Slatina” announced that his company has suspended production until May 2023 due to rising energy prices.

featured in Dünya Newspaper newsAccording to Popescu, he told the press yesterday that the company Alro Slatina informed them that it has decided to suspend production until May 2023 due to rising energy prices.

Stating that they have spoken to the shareholders of the company, Popescu stated that 2,200 employees at the factory will be unemployed and receive social assistance.

Popescu reminded that the other factory of the same company, Alum Tulcea, also decided to stop production for 17 months as of August 1.

Which companies stopped production?

Europe’s largest aluminum plant, Aluminum Dunkerque Industries, will cut production at its Dunkerque plant by 22 percent.

German aluminum giant Speira will reduce its aluminum production by 50 percent as of October.

In Delfzijl, the Netherlands, Damco Aluminum and Aldel’s factory in Farmsum were shuttered.

Norsk Hydro has announced that it will cease production in Slovakia at the end of the month.

Slovenian company Talum and Norwegian Alcoa decided to reduce their production capacity.

Novelis, one of the largest buyers of aluminum, has announced that it will not accept Russian metal in potential new deals to supply European factories next year.

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