Hydro planning to cut output at its Slovalco aluminium smelter due to weak market conditions

Norsk Hydro plans to reduce output by 20% at its majority-owned Slovalco primary aluminium smelter in Slovakia, citing a weakening market, the company announced on Monday December 2.

"The board of directors at Hydro's majority-owned Slovalco primary aluminium plant in Slovakia has decided to recommend to the shareholders of the company to curtail maximum 20% of the plant's primary aluminium production, responding to the weakening market environment," the company said.
The curtailment at the Slovalco smelter, which has annual production capacity of 175,000 tonnes of primary aluminium and a casthouse capacity of close to 200,000 tonnes, is expected to commence in January 2020.
Hydro owns 55.3% of the Slovalco plant, while Penta Investments holds the remaining 44.7%.

The market was not overly surprised by news of the proposed cut, saying that the quantity was not that big and unlikely to have much of an effect on the market, but...

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