Norsk Hydro's Slovalco aluminum plant to cut output by 20%
According to the report, Norsk Hydro, one of the world's largest aluminum manufacturers, planned to reduce its majority-owned Slovalco aluminum plant in Slovakia by 20%.
It was reported that Hydro owned 53% of Slovalco's aluminum plant. The plan got a formal approval at the plant's annual shareholders meeting, and the production reduction plan will be launched next month.
In addition, it was expected that global aluminum demand will be basically flat in 2020, with a range of change of plus or minus 1%. However, China's domestic demand was expected to rise by 1-3%.
