9,006.55 TRY BIST 100 BIST 100
4.84 CNY CNY CNY
34.29 USD USD USD
37.25 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
44.62 TRY Interest Interest
72.99 USD Fossil Oil Fossil Oil
33.70 USD Silver Silver
4.35 USD Copper Copper
102.49 USD Iron Ore Iron Ore
375.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,067.38 TRY Gold (gr) Gold (gr)

Aluminum production cuts continue in Europe

Aluminum production outages in Europe continue despite relief from high electricity prices.

Aluminum production cuts continue in Europe

Nearly half of Europe's aluminum capacity has been cut over the past two years as electricity prices have slashed profits for all but the lowest-cost producers. But the shutdowns continue despite decreasing electricity prices. Prices have failed to recover from a sharp decrease that began a year ago, despite the shutdown of all capacity.

Since the end of 2021, European smelters have reduced their annual aluminum capacity by more than 1 million tons due to high electricity prices. Average monthly wholesale electricity prices peaked in August last year and in some cases were 10 times higher than two years ago.

Despite the decrease in electricity prices, producer margins have still been inadequate. Electricity prices in Europe are still three times higher than two years ago. Aluminum prices have not recovered enough, if at all, to maintain producers' profit margins.

The recent cuts in European aluminum production may have less to do with electricity prices and more to do with the structural shift of primary production eastwards.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Trade Minister Bolat: We broke the highest October export record in the history of the Republic

Saturday, November 2, 2024

ICA İçtaş issued 405 million dollars value of project bonds!

Saturday, November 2, 2024

Japan's steel exports fell by 3.9%

Friday, November 1, 2024

Türkiye's crude steel production up 13.8% year-on-year in 9 months

Saturday, November 2, 2024

“Customers not paying on time” was the most important problem for Russian companies

Saturday, November 2, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now