Insight
Alunorte cuts alumina output by 50%: What does it mean for the market?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Norsk Hydro has announced a 50% production cut at its Alunorte refinery – the world's largest alumina refinery outside China – following a natural gas supply disruption from its contracted supplier CELBA. Hydro has flagged a USD 75–100 million EBITDA impact in Q3 2026. In our latest insight, we answer the key questions: Who will be most impacted from the cut? What does this mean for the global alumina supply-demand balance? What happens to alumina prices from here?
Table of contents
- Who does Alunorte supply to?
- Who will be impacted?
- Market impact: A supply shock to a surplus alumina market
Tables and charts
This report includes the following images and tables:
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Alunorte's SGA supply portfolioBrazil alumina production and exportsBrazilian alumina export by destinationMarket balance scenarios (Mt)
What's included
This report contains:
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