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Quarterly guiding

Ahead of the quarterly results release, we remind you of the relevant publicly available information and guidance for the next quarter.

Business area outlook for Q3 2022 as provided in the Q2 2022 presentation:

Bauxite & Alumina

  • Alunorte production around nameplate capacity
  • Higher raw material costs

Aluminium Metal

  • ~69% of primary production for Q3 priced at USD 2 597 per mt
  • ~49% of premiums affecting Q3 booked at USD ~1 079 per mt
    • Q3 realized premium expected in the range of USD 800-850 per ton
  • Lower raw material prices

Metal Markets

  • Volatile trading and currency effects
  • Summer maintenance at recyclers

Extrusions

  • Regular summer shutdowns in Europe
  • Supply-chain volatility remains
  • Increased market uncertainty

Energy

  •  Lower production
  • Average NO2 spot price 2 383 NOK/MWh in July (01.07.2022 – 21.07.2022)
  • Weak hydrology in Southern Norway
  •  Volume and price uncertainty, with continuing price area differences

Additional information

  • The latest available price and currency sensitivities for earnings (as well as information on the price time lags for revenues and costs), are included in the Q2 Investor presentation.

Publicly available information regarding the market prices and currency developments in Q3:

  • The average LME-cash market rate in Q3 was 2359 USD vs USD 2882 in Q2. Realized price in PM lags LME spot with 1-2 months.
  • The average spot PAX alumina price in Q3 was USD 327 vs USD 355 in Q2. Alumina prices in B&A are realized with ca one month lag, in PM with 2-3 months lag
  • The average USD/NOK market rate in Q3 was 9.98 vs 9.44 in Q2
  • The average USD/BRL market rate in Q3 was 5.24 vs 4.93 in Q2
  • The Nordpool power price for NO2 (where Hydro has ~2/3 of the production) in Q3was NOK/MWh 3519 vs1751 NOK/MWh in Q2
  • The Nordpool power price for NO5 (where Hydro has ~1/3 of the production) in Q3was NOK/MWh 2883 vs1630 NOK/MWh in Q2
  • The Nordpool power price for NO3 in Q3was 316 NOK/MWh vs235 NOK/MWh in Q2

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