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, Aluminium Dunkerque Industries France. Losses there ballooned to €20 million ($22 million) during November, as natural gas prices quadrupled this year. Most aluminum smelters […]
Search Results for: power costs
Zinc prices boom to 14-year highs as power costs hit producers
Zinc prices have surged to 14-year highs this week, rising by over 24% on a month-over-month basis. The LME three-month zinc price closed Friday at $3,757 per metric ton, according to MetalMiner Insights data. Chinese primary cash zinc closed Monday at $742 per metric ton, up 20.86% month over month. We’re offering timely emails with […]
Week in Review: Aluminum prices remain elevated; power costs weigh on metals producers; IEA releases World Energy Outlook
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including aluminum prices, rising power costs and much more: Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for each on the MetalMiner […]
Soaring European power costs force cutbacks in metals output
It was only a matter of time, as a fourfold increase in power costs for some heavy consumers, on top of environmental carbon emissions levies, have finally proved too much for some European metals producers. Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for each […]
High Energy Costs: Can Hydro Power Help Alleviate Lower Smelter Output?
Recently, I had the pleasure of interviewing Trond Gjellesvik and Charlie Straface of Hydro. Hydro is a Norwegian company specializing in green energy and low-carbon aluminum products. It is based out of Oslo, but harbors multiple business locations around the globe. I was curious to learn how the company’s efforts correlated with the current price […]
Montenegrin Powerhouse EPCG Željezara Nikšić to Restart by 2024
Regional media reports state that Montenegrin specialty steels producer EPCG Željezara Nikšić aims to restart production by the end of 2023, possibly impacting steel prices. The facility went offstream in 2021, dramatically reducing steel output in the small Balkan country. Analysts remain eager to see how the restart might affect steel prices in the region. […]
Renewables/GOES MMI: Summer to Test Power Grid, Global Hunt for Transformers Continues
The Renewables MMI (Monthly Metals Index) dropped again this month, this time by 6.01%. Month-over-month, every part of the index fell except for U.S. plate steel. Somewhat weaker steel demand impacted Korean and Chinese steel plate prices, causing them to drop. Meanwhile, cobalt and silicon continued to fall due to oversupply. That said, the long-term […]
No respite for European zinc smelters in face of high energy costs
European zinc producers will continue to face volatile energy costs until more renewable sources and LNG gas become more accessible, industry watchers said. “Zinc smelters are really struggling as electricity is a bigger proportion of the cost compared with copper or nickel smelters,” one analyst told MetalMiner. This has led to rising zinc prices. Renewables […]
This Morning in Metals: Energy costs surge; steel imports rise; aluminum price picks up
This morning in metals news: energy costs surged in 2021; U.S. steel imports picked up in November; and, lastly, aluminum prices rose during the second half of December. All the metals intelligence you need in one user-friendly platform with unlimited usage. Request a MetalMiner Insights platform demo. Energy costs rise in 2021 Energy costs surged […]
Power crisis in China drives aluminum alloy prices higher, threatening supplies
A timely post by the Financial Times covers the threat to the global auto industry as a result of the power crisis in China limiting supplies of key components used across a range of industries. But specific to the post is the making of aluminum alloys. Almost 90% of the world’s magnesium production comes from […]
