No manufacturing industry can survive with ridiculous power prices like these. The last 4 Aussie aluminium smelters are struggling to survive and will go bankrupt unless the Government subsidises them for $100's millions.
Everybody should watch what is happening in Europe as company after company shut down smelters and manufacturing.
No point students studying metallurgy as the only jobs will be available in either Russia or Asia.
Only have to look at the ferro silicon prices in Europe over the past week, shot up 40% overnight when OM Sarawak a major supplier into Europe announces the idling of two furnaces due to import of raw materials from China due to the Coronavirus.
The biggest alloy manufacturers in Europe have either gone broke or have curtailed production due to excessive power prices.
Australia should look, watch, understand and learn what happens when power prices go through the roof.
Rooftop solar is great for reducing costs for a household but will not power smelters with 1000's MWH 24/7/ 365.
The end is near.
