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Europe's Aluminum Smelters In Turmoil Amid Rising Power Costs

Jan. 03, 2022 9:15 AM ETAA, JO, DBC, GSG, DJP, GSP, GSC, GCC, RJI, BCM, BCI, BCD, COM, USCI, FTGC, COMT, PDBC, UCIB, FAAR, COMB, SDCI, CMDY, DJCB, JJS, CCRV1 Comment
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Summary

  • Most aluminum smelters operate on long-term power contracts.
  • Cash-settled premiums for duty-paid aluminium in Europe were last at $330.83 per ton on the London Metal Exchange.
  • The shortage of thermal coal caused the costs of thermal power to soar.

roll of steel sheet in factory

PhonlamaiPhoto/iStock via Getty Images

By Stuart Burns

Original Post

As our colleague Fouad Egbaria noted this week, rising power costs in Europe, almost wholly down to the cost of natural gas, resulted in reduced output at Europe’s largest aluminum smelter,

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Comments (1)

D
I thought all the smelters in Europe are in Iceland for the excess water power?
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