Europe’s energy crisis has claimed another victim in the power-hungry metals industry, with Norsk Hydro ASA planning to shutter an aluminum smelter in Slovakia at the end of next month.
Aluminum is one of the most energy-intensive metals to produce, and the closure of the Slovalco facility adds to growing signs of stress in Europe’s industrial economy as power prices surge to record highs. The region had already lost about half of its zinc and aluminum smelting capacity over the past year, mainly as producers have dialed back output, but Hydro and others are now moving to shut down plants entirely.
