Nyrstar will cut production by up to 50% at its three European zinc smelters from Wednesday due to the soaring price of electricity, the Belgium-based company said in a release.

“The cost burden of carbon emitted by the electricity sector which is passed on to industrial and domestic customers, mean it is no longer economically feasible to operate the plants at full capacity,” Nyrstar said.

“Indirect cost compensation for energy-intensive producers to protect their competitiveness versus non-EU producers varies by European country and this puts Nyrstar’s Budel, Balen and Auby plants at a competitive disadvantage, compounding the impact of extreme energy prices.”