Many European metal producers could face shutdowns due to high electricity prices as Russia cut off natural gas supplies to Europe and caused energy prices to rise. Therefore, the European Non-Ferrous Metals Association (Eurometaux) has indicated that the EU must deal with the problems.
The reduction in the production of zinc, aluminum and silicon in Europe has led to an increase in the deficit of the European steel, automotive and construction industries.
Eurometaux has advised the EU to support companies facing operational difficulties by raising the threshold to 50 million euros. Support included that the government could improve funding for energy-intensive industries to reduce their cost due to higher carbon prices thanks to the Emissions Trading System (ETS).
European metal producers face downsizing or shutting down due to high energy costs
There are no comments yet.