A Slovak smelter will stop operating by the beginning of October as a result of rising electricity costs.
By the end of September, the Slovalco aluminium smelter in Slovakia will cease primary production, it was revealed on Wednesday.
According to Slovalco's majority owner, Norsk Hydro, "the decision to cease primary aluminium production at Slovalco comes in reaction to unfavourable framework conditions and high electricity prices, which show no signs of improvement in the immediate future."
It was mentioned that the Slovalco casthouse in central Slovakia is continuing its recycling business and provides 75,000 tonnes of recycled aluminium per year to consumers in the area.
According to the CEO of the facility, Slovalco is a significant supplier to businesses in Slovakia and other parts of Europe. Europe will be compelled to acquire aluminium from nations like China and Russia when production is stopped, he continued.
The closure of Slovalco comes after a similar choice this week to stop operations at a zinc smelter in the Netherlands.