Lower premiums dent Norsk Hydro earnings

摘要

Falling premiums hurt Norsk Hydro’s second quarter results, as the aluminium company projects a surge of exports from China will generate a global supply overhang of 0.5-1mn t this year. Norsk Hydro was not immune to the nearly 50pc drop in premiums through the second quarter, which has “been heavily influenced by increased exports of semi-finished products from China and increased metal available from warehouses partly due to a reduced contango,” Norsk Hydro said.