• Skip to main content

    AMU

    July 26, 2024

    CRU aluminum news roundup

    Written by Marziyeh Horeh

    Hydro notes challenging demand environment in Q2 results

    Norsk Hydro recently released its 2024 Q2 results. The Norwegian producer posted an adjusted EBITDA of NOK5.839 billion ($530 M), down 17.7% year-on-year (y/y) but up 7.9% quarter-on-quarter (q/q). As for the unadjusted EBITDA, it came in higher at NOK6.044 billion amid an unrealized profit of NOK147 M on power contracts and NOK321 M on divestments. The adjusted EBITDA was negatively impacted by lower extrusions volumes, recycling margins, and energy spot sales, as well as by higher fixed costs. This was partly offset by higher alumina prices and lower raw material costs.

    Marziyeh Horeh

    Marziyeh Horeh is an aluminum analyst at CRU. She covers extrusions and the secondary market in North America. Prior to joining CRU in August 2023, Marziyeh was a post-doctoral fellow at Purdue University focusing on the economics of climate change and sustainability. Marziyeh holds a PhD in Natural Resource Economics from West Virginia University.

    Read more from Marziyeh Horeh

    Latest in AMU

    The words "Aluminum Market Update" in white against a dark blue background

    AMU: Edward Meir’s week in review and thoughts for the week of Oct. 12, 2026

    Base metals had a mixed week. Tin lost almost 4% on the week, finishing at $53,000/ton. Prices dropped to a low of $51,259/ton at one point. Aluminum was another loser, off by about 1.6% on the week. Investors are expecting more aluminum supply going forward, especially out of China and Indonesia. Copper prices tacked on 1.1%. They have now recovered more than half of the $700/ton loss sustained (over the course of a week) following reports/rumors in mid-September that US tariffs on refined copper imports might not proceed after all.