Norsk Hydro's aluminum production remained stable in the second quarter of 2024, with slight fluctuations in bauxite and alumina production. According to the second-quarter report of 2024 released by Norsk Hydro on July 23, the company's primary aluminum production stood at 507,000 tons in the second quarter of 2024, remaining flat both sequentially and year-on-year. Alumina production decreased by 3% year-on-year to 1.492 million tons, while bauxite production increased by 4% year-on-year to 2.73 million tons. However, the company's second-quarter profits declined by 18% due to a drop in aluminum profile production, a decrease in energy sales and recycled aluminum segment margins, as well as rising fixed costs.

Norsk Hydro stated that the main challenges faced include weakened demand in European real estate, a shortage of scrap aluminum, and a slowdown in aluminum profile production due to declining electric vehicle production. Analysts expect that aluminum prices will remain weak as the market enters its traditional off-season, and profits in the third quarter will continue to be weak.