What Is Driving Global Metal Markets?

Given the state of the world, one would expect base metal prices to show every sign of a resurgence. Certainly, analysts have been bullish about a supply squeeze for months because sky-high natural gas prices forced record electricity costs across Europe. Just this week, the FT reported that Aluminum and Zinc smelters continue to close all over the continent with the latest casualty being the 175,000-ton Slovalco aluminum smelter in Slovakia. According to Norsk Hydro company representatives, who are the majority owners, Slovalco will shut down…