Norsk Hydro calls on EU & US to stop importing Russia’s aluminum
Views : 196
Update time : 2022-10-28 16:50:35
Hilde Merete Aasheim, CEO of Norwegian aluminum producer Norsk Hydro, called on the US and the EU to stop imports of Russia’s aluminum, as Europe is facing an energy crisis and soaring electricity costs, which led to half of Europe's aluminum production capacity being shut down, but Russia’s aluminum production hasn’t been affected.
She said that Russia is benefiting from the closures of European aluminum smelters. European aluminum industry would be unable to compete with Russia amid the current high energy costs.
The aluminum industry is an energy-intensive business. Energy costs were affected a lot when Russia's gas supply to Europe was disrupted. Therefore, it was important to get more renewable energy over time, Aasheim said.
Entering the Chinese New Year holiday, market trading is sluggish
Trade & Pricing: Europe's billet market trend 2024-2025
