Hydro Anticipates Spike in Aluminum Demand, Driven by Green Transition

SEATTLE (Scrap Monster):  Hydro announced publication of its Annual Report 2024.

According to the analysis, global aluminum demand is anticipated to observe considerable increase towards 2050, mostly driven by green transition. The company's recyclable and low-carbon products will benefit greatly from this. It must be highlighted that the corporation has already surpassed 2025 decarbonization targets. It also hit significant benchmarks on its way to the 2030 and 2050 goals.

Rising geopolitical tensions and erratic market circumstances characterized the preceding year. In spite of this, Hydro has been able to improve its market standing and quicken the shift to green aluminum.

Higher alumina prices and cheaper raw material costs contributed to 2024's adjusted EBITDA of NOK 26,318 million, which was much higher than 2023's NOK 22,258 million. Additionally, the year-end adjusted RoaCE was 8.5%.

Hydro's president and CEO, Eivind Kallevik, stated in his Letter to Stakeholders in the Integrated Annual Report 2024 that the firm is dedicated to carrying out its plan. During the past year, it accomplished a number of significant milestones that fueled the company's green aluminum shift across the board. He noted that Hydro is in a strong position to meet its 2030 goals.

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