The worsening energy crisis is piling pressure on vital commodities industries across the globe, Bloomberg reported on Thursday.
According to the article, energy-intensive sectors such as steel, fertilizers and aluminum are being forced to close factories or pass on soaring costs. The situation could get much worse this winter, when gas supplies are set to become even tighter, it notes.
“Europe has already lost about half of its zinc and aluminum smelting capacity over the past year, and more is set to go offline,” the outlet said.
In China, droughts have curbed crucial hydropower output and hurt smelter production. US suppliers have also been suffering, with major producer Century Aluminum planning to lay idle its massive Kentucky plant due to skyrocketing energy costs.
Power cuts in China’s Sichuan province have affected more than 70% of the local…
