[Norsk Hydro Maintains Stable Aluminum Production in the Second Quarter of 2024, with Minor Fluctuations in Bauxite and Alumina Production] Norsk Hydro's second-quarter report for 2024 released on July 23 indicated that primary aluminum production in the second quarter of 2024 reached 507,000 tons, remaining flat both sequentially and year-on-year. Alumina production decreased 3% year-on-year to 1.492 million tons, while bauxite production increased 4% to 2.73 million tons. However, the company's profits declined 18% in the second quarter due to a decline in aluminum profile production, reduced energy sales, and lower profit margins in the recycled aluminum segment, coupled with rising fixed costs.

Norsk Hydro stated that the main challenges faced include weakening European real estate demand, a shortage of scrap aluminum, and slower aluminum profile production due to declining electric vehicle production. Analysts predict that aluminum prices will remain weak as the market enters the traditional off-season, and profits in the third quarter are expected to remain sluggish.