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...Europe’s largest aluminium producer Norsk Hydro has warned that the construction sector in some of the region’s largest countries is suffering from a demand slump similar to the one during the Covid-19 crisis...
...Hilde Merete Aasheim, chief executive of Norsk Hydro, said the company was paying attention to this risk....
...Norsk lifted its capital expenditure guidance for next year to NKr13.5bn, versus previous guidance of NKr10bn for the period....
...Northvolt and Norsk Hydro will take their battery recycling joint venture to continental Europe later this year after the Swedish start-up and Norwegian aluminium producer opened their first plant in Norway...
...The Norsk Hydro plant in Slovakia produced aluminium, while the Nyrstar smelter in the Netherlands, controlled by trading group Trafigura, produced zinc....
...The Slovalco aluminium smelter in Slovakia, majority owned by Norsk Hydro, will close primary production by the end of September and affect 300 full-time jobs....
...The group intends to team up with Norwegian state-controlled oil and gas major Equinor and aluminium company Norsk Hydro for a feasibility study on expanding its battery business in Europe to be completed...
...Northvolt and Norsk Hydro are teaming up to recycle batteries from Norway’s hundreds of thousands of electric cars as part of Europe’s effort to build a green battery industry to take on Tesla and Asian...
...The case is a sensitive one for Norwegian investors and the government, which owns a 34 per cent stake in Norsk Hydro....
...She said it was easier for Norsk to fix problems under its control rather than low aluminium prices: “We have to raise our ambition. We have to be in control and capable....
...Norsk Hydro has secured the approvals needed to resume full production from Alunorte, its giant alumina refinery in Brazil, ending a long-running legal wrangle....
...Norsk Hydro became the latest company to be hit by hackers in a ransomware attack as one of Europe’s leading aluminium producers suffered stoppages at several of its plants....
...The poor fourth-quarter performance weighed on Norsk’s full-year performance and its dividend....
...Shares in Norsk rose 5 per cent to NKr41.37 on Wednesday....
...It has since fallen back to around $400 a tonne but could see further weakness if Norsk Hydro’s Alunorte plant returns to full production....
...Norsk has other issues....
...Norsk Hydro shares traded up 5 per cent on the news to NKr46.14....
...Norsk Hydro has pulled its €345m offer for Rio Tinto’s aluminium smelter in Iceland after opposition from European regulators....
...Shares in Norsk Hydro dropped on Wednesday after the Norwegian metals company said it was preparing to halt operations at its giant alumina refinery in Brazil....
...The comments from Norsk Hydro come as the alumina market braces for further volatility....
...Arvid Moss, vice-president of energy at Norsk Hydro, said the low price and long duration of the wind power contract made it ideal for aluminium smelters....
...Just over a month later, the Anglo-Australian group said it had received a binding $345m offer for Isal smelter in Iceland from Norsk Hydro....
...Svein Richard Brandtzaeg, the chief executive of Norsk, said he could not rule out aluminium spiking to $3,000 a tonne....
...In February, Brazil’s environment regulator ordered Norsk Hydro, the owner of the Alunorte refinery, to cut its production by 50 per cent, following accusations that it had contaminated local drinking water...
...“In the worst case this may force other plants to curtail capacity in Europe,” Halvor Molland, a spokesman for producer Norsk Hydro, said....
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