Hydro's extrusion production down 50% on cyber-attack; bearish for US & European premiums (billet, P1020) and LME prices

In an update this morning concerning the cyber-attack suffered Tuesday, Norsk Hydro stated that their extruded-products unit is running at approximately 50% of normal capacity. Meanwhile, rolled products operations are “running mostly as normal, with only a few exceptions” ́, while primary aluminum and alumina/bauxite production continued to be reported “running as normal” with more manual operations than usual. This bearish for billet and P1020 premiums in the US and Europe, and also bearish for LME prices in the very short term.

More details in full report.