Alro, the largest consumer of electricity in Romania, claims that it does not stop aluminum production for the time being, as announced by the union leaders, but implies that it is not long before it should stop activity, if the current huge energy prices are maintained, according to e-nergia.ro.

“Regarding the news published in the Romanian press regarding the imminent closure of the production activity, the company announces the investors and the interested public that it has not taken a decision in this regard in the statutory forums, despite the exceptional situation on the energy and gas markets.

The company’s management is concerned about recent developments in energy prices, considering the levels reached in recent days to be unfounded and economically unsustainable.

The economic situation is fluid and extremely volatile, and when the company’s management will make impact decisions for the company and investors, it will announce this according to the regulations in force,” say Alro officials, according to a release sent to BVB.

“We are facing exorbitant prices in the energy market and a lack of energy in the market. We have already started the closure process. We have nowhere to find energy, Romania is importing. We extract the aluminum, and we will close part of the production units depending on the market. Think that we cannot produce with the price of 2,300-2,600 dollars per ton of aluminum,” Constantin Popescu, the president of the Free Aluminist Trade Union, told Ziarul Financiar.

Overall, Alro has more than 700 units, of which about 300 could be closed by March 10 at the latest.