Aluminum is one of the most energy-intensive metals to make, and the surge in power prices already knocked about 900,000 tons of smelting capacity offline in Europe and North America.
The EU added Andrei Kozitsyn, former head of Urals Mining and Metals Co, to its list of individuals and companies banned for supporting the invasion of Ukraine.
Volatile market reeling from a big short gone wrong can blow up if West imposes sanctions on Russia. And don’t expect Indonesia to fill in gaps anytime soon.