Hydro Reports 15% EBITDA Growth, Restarts Slovakian Smelter Capacity Amid Strong Aluminum Prices

Published: Jul 30, 2026 11:09

Save

[SMM Aluminum Express News] Hydro reported adjusted EBITDA of NOK 8.9 billion in the second quarter of 2026, up 15% year on year, supported by higher aluminum prices, stronger product premiums and improved recycling earnings. The company generated NOK 4 billion in free cash flow during the quarter, while announcing the restart of 75,000 tonnes of curtailed capacity at the Slovalco aluminum smelter in Slovakia during the second half of 2026. Hydro's aluminum operations continued to deliver strong operational performance, with record casthouse production in Norway and higher output from its Alunorte alumina refinery. The company also signed a 5 TWh long-term renewable power agreement with Eviny, increasing power coverage for its Norwegian operations to 85% of sourcing needs in the 2030s, while noting that the global ex-China alumina market remained oversupplied despite raw material constraints in Indonesia and Australia.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

48 mins ago

Aluminum alloy futures shot up, came under pressure and pulled back, with spot aluminum following higher amid sluggish transactions [ADC12 price daily review]

[ADC12 Price Daily Review: Aluminum Alloy Futures Shot Up, Came Under Pressure and Pulled Back; Spot Aluminum Followed Suit with Sluggish Trading] The aluminum alloy 2609 contract opened at 23,140 yuan/mt today, with an intraday high of 23,290 yuan/mt and a low of 23,055 yuan/mt.

48 mins ago

2 hours ago

China's Cast Aluminum Alloy Inventory Down 9 Weeks, Momentum Slows

[SMM Aluminum Alloy Flash] As of this week, China's social inventory of cast aluminum alloy ingots has decreased for nine consecutive weeks, now reported at 24,300 mt, down 1,600 mt WoW, with a cumulative decline of 38,700 mt. However, the pace of inventory decline has narrowed significantly compared to before, indicating that the momentum of warehouse withdrawals has weakened.

2 hours ago

SHFE Aluminum Prices Rise, Market Procurement Sentiment Weakens

[SMM SHFE Aluminum Spot] In early trading, the trading center of the SHFE aluminum 2608 contract was higher than the same period of the previous trading day. The rise in aluminum prices caused a notable decline in market procurement sentiment. During the day, some suppliers quoted at around parity against the SHFE aluminum 2608 contract, and market price acceptance remained weak. Mainstream transaction prices mainly ranged from a discount of 10 yuan/mt against the SHFE aluminum 2608 contract to parity with it. In east China, the shipment sentiment index today was 3.13, down 0.03 from the previous trading day; the procurement sentiment index was 2.90, down 0.10 from the previous trading day.

2 hours ago