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The metals industry led the way: zinc and aluminium capacity has halved
European zinc and aluminium smelting capacity has fallen by almost half over the past year and a further surge in electricity prices could see more plants shut down in the winter amid a supply squeeze caused by the conflict between Russia and Ukraine, Eurometaux, the European non-ferrous metals industry association, warned on Wednesday.
Guy Thiran, director general of Eurometaux, said more production facilities were at risk of permanent closure if EU fears of winter gas shortages and soaring electricity prices were realised.
He noted that any further decline in European metal production could become permanent and lead to massive job losses.
The warning from Eurometaux, which represents miners, smelters and manufacturers that employ half a million people in Europe, highlights the risks facing the industry.
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