Aluminum prices can’t keep up with energy costs, driving wave of closures
“Tensions between the U.S. and Russia over Ukraine are exacerbating a shakeout in the aluminum sector, which has been hammered by rising power prices over the past year,” reports Joe Wallace in Fox Business.
“The price of aluminum has increased by 24% over the past six months to more than $3,100 a metric ton, approaching a decade high. The prospect of a Russian invasion of Ukraine has made matters worse. Russia is one of the world’s biggest aluminum producers and traders fear disruptions to its exports if conflict breaks out”
