They're already high enough for things like steel mills to start shutting down, and once the pipeline reserves Europe filled up from Russia during the summer run down, then it's LNG prices from there on out https://oilprice.com/Metals/Commodities/European-Stainless-Steel-Mills-Are-Closing-Due-To-Energy-Crisis.html

[–] flag@beehaw.org 4 points 2 years ago (1 children)

yeah but Europe doesn't need steel mills to produce ammo, no?

[–] yogthos@lemmy.ml 1 points 2 years ago

Europe needs working industry to produce ammo, and steel mills are certainly important for producing all kinds of weapons and parts for the military. Steel mills aren't the only thing shutting down. It's a systemic problem https://www.bloomberg.com/news/articles/2023-02-04/german-energy-reprieve-too-little-too-late-to-save-factory-jobs