The second European smelter in two days has announced it will halt production because of rising energy costs, reflecting the deepening nature of the gas crisis on the region’s industry.
The Slovalco aluminium smelter in Slovakia – which is majority owned by Norsk Hydro -will will shut down primary production by the end of September.
This follows a comparable decision yesterday to cease output at a zinc smelter in the Netherlands.
The Budel smelter in the Netherlands, which controlled by Trafigura Group’s Nyrstar will be placed on care and maintenance from 1 September “until further notice,” according to a company statement
Smelting ore to produce metal one of most energy reliant industrial processes, and its costs have frocketed in line with energy prices.
With Russia squeezing supplies into Europe, sustained price rises and shortages are likely to put even more pressure on heavy industry across the continent.