A PYMNTS Company

EU: Commission focuses on boosting aluminum market

 |  May 24, 2013

The European Commission has announced a new focus on the struggling aluminum sector as the regulator said it expects to conclude a review of the market by October. In preparation, the Commission is now reportedly looking at potential proposals to lift the sector, such as issuing long term power contracts. According to reports, the 2008 financial crisis in Europe has lead to the closing of about 2 million tones of aluminum production. This is all while global production has jumped by about 10 million tons, mostly within Asia and the Middle East, according to data from Reuters. Currently, the EU is now evaluating possible financial costs of initiating new legislation to help the market. The Commission’s ‘fitness check’ of the sector first began last October.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.