Norsk Hydro Anticipates Surge in Post-Consumer Scrap Consumption

SEATTLE (Scrap Monster): Norsk Hydro, a company based in Norway, declared that it is moving forward with its 2030 plan to take advantage of the green transition's potential. In order to provide NOK 6.5 billion in improvements by the end of the current decade, the corporation started a new improvement initiative.

A corporate news release states that despite sluggish markets in North America and Europe, sales of Hydro REDUXA and Hydro CIRCAL rose by more than one-fifth this year. 700,000 metric tons of post-consumer scrap (PCS) are expected to be consumed by the company. Furthermore, it is anticipated that Hydro's hot metal expenses will drop by $20 to $30 per metric ton by 2030 as a result of the combined recycling efforts of its Recycling, Aluminum Metal, and Extrusions business divisions.

It should be mentioned that Hydro had introduced its 2030 plan the year prior, with the intention of advancing its expansion goals in the areas of extrusions, renewable energy production, and aluminum recycling. 

Hydro has made the decision to phase out its Battery and Havrand operations as part of the strategy. Green hydrogen and battery materials would no longer be the company's main growth areas, it said.

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