Declining alumina and aluminum prices will hamper Hydro's long-term earnings growth.
Norsk Hydro announced solid first-quarter results, with underlying operating income of NOK 3.1 billion, up significantly from NOK 2.3 billion in the same period last year. Higher profits were largely driven by elevated alumina and aluminum prices, with cost inflation serving as a partial offset. These positive results come despite a partial outage for the Brazilian Alunorte alumina refinery, which is running at 50% of production capacity. The outage will result in lower alumina shipments in 2018...Norsk Hydro is an aluminium group based in Norway. Co. is engaged in the supply of aluminium and aluminium products. Co. supplies casthouse products, such as extrusion ingots, sheet ingots and foundry alloys. Co's customers are active in sectors such as the packaging, lithographic, building, automotive and transport sectors. In addition, Co. is engaged in the production of power in Norway. Its business is divided into six operating segments: Bauxite & Alumina, Primary Metal, Metal Markets, Rolled Products, and Energy and Other and Eliminations.
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