Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Norwegian aluminum producer Norsk Hydro produced 561,000mt of primary aluminum across its smelters in Q2 2021, a 4pc increase from 509,000mt in Q2, 2020. Alumina production also rose by 10pc to 1.59mn mt within the same time frame.


The company has restarted two production lines at its Husnes smelter, to focus on developing its low-carbon aluminum platform. Meanwhile, Hydro’s Metal and Extrusions division recorded strong growth in Q2 profits. 


Hydro’s Rolling division divesture to KPS Capital Partners was completed on schedule on June 1, 2021. The sale of the entire division, including property purchased by a real estate firm, had a total enterprise value of EUR1.4bn ($1.6bn). 


Hydro Extrusions’ sales increased 52pc to 342,000mt in Q2 2021 when compared to 224,000mt in the same period of the year prior. The business’ adjusted EBITDA was at NOK2.8bn ($316mn) in the second quarter a 400pc increase from NOK560mn in Q2 2020. Within the same period, under comparison, its Aluminium Metal division posted an adjusted EBITDA of NOK6.6bn up by 144pc from NOK2.7bn. 


For the second quarter, Hydro posted a net income of NOK2.4bn from its overall operations, compared to a net loss of NOK1.5bn in Q2 2020. 

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