European Aluminum Giant Is Fretting a Chinese EV Influx
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Who isn't playing the China card in Europe? Enter major aluminum producer Norsk Hydro.
While the price of aluminum has climbed off the mat in recent months, it's still well below the heady days of early 2022, when the metal's spot futures price was charging toward $4,000 per ton (it's now around $2,200). The downturn has come amid Hydro closing a smelter in Slovakia in the wake of surging energy prices brought on by Russia's invasion of Ukraine, as well as the constant uncertainty of watching China decide whether it'll stick to its world-leading annual production cap of 45 million tons (for now, it has).
Source Fool.com
