Natural gas and coal prices are soaring in Europe, and it’s beginning to impact some of the region’s biggest metals producers. Many metal producers in the region have announced cutbacks, and many more are likely to follow suit. Both production cutbacks and energy-specific surcharges are likely to become an increasing feature of the European metal market this year. It was only a matter of time, as a fourfold increase in power costs for some heavy consumers, on top of environmental carbon emissions levies, have finally proved too much for some European metals producers. European power costs squeeze metals producers Nyrstar, the huge Belgium-based zinc producer, is the first major smelter — but it likely won’t be the last — to announce cutbacks. According to Reuters, the group will reduce output by up to 50% from Oct. 13 at its three smelters: Budel in the Netherlands, Balen in Belgium and […]