Europe's Aluminum Output Starts to Recover as Energy Prices Fall [BNN Bloomberg (Canada)]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: BNN Bloomberg
The continent's aluminum sector was one of the worst-affected industries during the energy crisis, with more than half of regional capacity taken offline as power prices surged. The metal is one of the most energy-intensive to produce, and at the peak of the crisis the spot cost of buying the power needed to make aluminum in countries like France was more than five times higher than the price that smelters could collect selling metal. Now, the cost would account for about a quarter of the price, according to Bloomberg calculations based on spot prices and the typical amount of power needed to produce aluminum — which is about 40 times higher than is needed to make copper. Trimet — which has been running its plants in Germany and France at less than 50% of capacity over the past two years — said on Thursday it plans to ramp up to full capacity by mid-2025, targeting output of 540,000 tons per year. It secured a long-term power supply contract for its French plans with EDF last yea
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