Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Norsk Hydro keeps some aluminium capacity offline due to weaker demand

by uma
Editorial & Advertiser disclosure

OSLO (Reuters) – Norwegian aluminium maker Norsk Hydro is keeping a small portion of its capacity in Norway offline after maintenance due to a drop in demand for the metal, a company spokesperson said on Tuesday.

Hydro has decided not to restart smelting pots at its Karmoey and Husnes plants, effectively curbing output by “a few tens of thousands of tonnes” out of the 1.1 million tonnes the company produces in Norway every year.

“The main reason is lower demand for aluminium,” Hydro spokesperson Halvor Molland said.

“We’re not actively shutting down but we’re holding off on restarts after maintenance … this is within what we would call normal variations,” he said.

The soaring cost of electricity also had some impact on the decision, but was not the key reason as most of Hydro’s power needs are covered from its own production as well as long-term contracts.

Norwegian newspaper Haugesunds Avis first reported the news on Tuesday.

 

(Reporting by Terje Solsvik, editing by Essi Lehto)

 

You may also like