European metal manufacturers face cutting or closing production on concern of high energy costs
Date: 2022-09-09
European metal manufacturers face cutting or closing production on concern of high energy costs
Many European metal manufacturers might face to shut down their production because of high electricity costs because Russia stopped supplying natural gas to Europe and made energy prices hike. Therefore, the European non-ferrous metals association (Eurometaux) indicated that the EU should solve the problems.
Decreasing production of zinc, aluminum, and silicon in Europe made the European shortage supply of steel, automobile, and construction industries increase.
Eurometaux advised the EU to support the companies, which faced difficult operations, by raising the €50 million threshold. The support included that the government can improve funds to energy-intensive industries to decrease their cost of higher carbon prices due to the Emissions Trading System (ETS).
Post time: Sep-09-2022
English
Español
русский язык
Português
