Alunorte Shutdown: Norsk Hydro’s Pain Is Alcoa’s Gain
Norsk Hydro (NHYDY) has announced a production halt at its Alunorte alumina refinery in Brazil. The refinery, which is the largest alumina refinery outside of China, was operating at 50% capacity this year amid the feud between Norsk Hydro and Brazilian authorities. Earlier this year, the Alunorte curtailment coupled with RUSAL sanctions pushed alumina prices to record highs.