SEATTLE (Scrap Monster): Norsk Hydro announced its decision to partially curtail production at Hydro Karmoy and Hydro Husnes in Norway. This follows notable dip in market demand for aluminum billets in Europe. The process to curtail production will commence shortly and the two mentioned facilities are expected to reach new production levels by the end of the current year.
The partial curtailment at two facilities, coupled with recent production stoppage on account of scheduled maintenance activities is feared to reduce the company’s annual primary aluminum production capacity by 110,000- 130,000 tonnes. Also, once in full effect, this will reduce total power consumption by around 170-200 megawatts, said the company press release.
Commenting on the development, Eivind Kallevik, Executive Vice President and Head of Hydro Aluminium Metal noted that the extraordinary situation in the European economy and energy market is to be blamed for market uncertainty and a dip in demand for aluminum products. The partial curtailment will not affect manning levels at the plants, he added.
Norsk Hydro noted that longer-term market trends continue to remain positive due to projected rise in aluminum demand in support of green transition in Europe.
YOU MAY ALSO BE INTERESTED IN: