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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina is not producing enough aluminum to meet its own demand, says Norsk Hydro CFOPål Kildemo, CFO of the Norwegian aluminum and renewable energy company, discusses its results and the global aluminum market.
Persons: Pål Kildemo Organizations: China, Norsk Hydro
While there are no international sanctions on Russian metal, many consumers are shunning aluminium produced by Rusal (RUAL.MM), which accounts for 6% of global supplies. U.S. import tariffs on Russian aluminium and products are also prompting some consumers to "self-sanction". Some analysts estimate the discount for Russian aluminium at $100-$300 per metric ton, Norsk Hydro said. As LME aluminium prices are referenced in contracts between consumers, producers and traders, the dominance of Russian aluminium in the system is a problem, said Norsk Hydro's Chief Financial Officer Paal Kildemo. "There is still a risk that even more Russian aluminium will be delivered to LME further weighing on the reference price...
Persons: Paal Kildemo, Kildemo, Rusal, Pratima Desai, Polina Devitt, Eric Onstad, Veronica Brown, Jason Neely Organizations: London Metal Exchange, Norsk Hydro, Reuters, Britain's Financial, Authority, Norsk, Shanghai Futures Exchange, CME, Hydro, FCA, Thomson Locations: Norwegian
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRussian materials finding their way into the market place at discounted prices, Norsk Hydro saysPål Kildemo, CFO of Norsk Hydro, discusses the aluminium market and the sanctions on Russian metals.
Persons: Kildemo Organizations: Norsk Hydro
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRising energy costs have not lessened our commitment to renewables, Hydro CFO saysPål Kildemo, CFO of Hydro, discusses consumer demand for green aluminium, the impact of macroeconomic pressures on the business, and the company's plans for the production of EVs.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA ‘not-in-my-backyard mentality’ is hampering progress on renewables, Hydro CFO saysPal Kildemo, chief financial officer at Hydro, says that a “NIMBY mentality” is stalling progress on renewables — referring to the so-called “not-in-my-backyard” phenomenon.
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