Norsk Hydro ASA (Norsk Hydro), one of the world’s largest aluminum producers, had announced to decrease the global aluminum demand growth expectation for this year to 1-2%, 1% lower than the previous expectation in April.
Although the output of the Norsk Hydro’s Alunorte alumina refinery was currently increasing, the plant's production capacity only recovered to 80-85% in June after a 14-month court-ordered stoppage until this May, still unable to achieve the original production goal for this year.
Norsk Hydro was not the only company that decreased the global aluminum demand growth expectation. Most of the market participants have also decreased their expectation around 1% on average from the previous expectation in April.
Norsk Hydro decreases 2019 global aluminum demand growth expectation to below 2%
24 Jul 2019 16:47 reported by Jordan Huang
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