While power prices are a contributor, there's a whole lot more to this story I reckon.
" A 25 per cent slump in aluminium prices over the last 18 months, increasing power costs, and over-capacity had affected the smelter, which in February posted a $46 million loss. "
https://reneweconomy.com.au/energy-prices-plunge-as-n-z-aluminium-smelter-to-close-is-australia-next-95667/
Maybe they should think about investing in the future ?
https://www.greentechmedia.com/articles/read/german-firm-turns-aluminum-smelter-into-huge-battery
https://www.copyright link/companies/energy/big-smelters-act-as-a-battery-for-the-energy-grid-20191018-p531xd
