(Montel) Norsk Hydro will temporarily reduce production at its aluminium smelters at Karmoy and Husnes in southwestern Norway, a move in response to soaring energy costs and which will cut power consumption by 170-200 MW.
“The extraordinary situation in the European economy and energy market is causing market uncertainty and a decline in demand for our aluminium products,” said Eivind Kallevik, executive vice president of Hydro Aluminium Metal, in a statement on Tuesday.
“Even if 50 percent of Europe’s primary aluminium production capacity has been curtailed during the last year, recent drop in demand is causing a buildup of stock, forcing us…
