Norsk Hydro reported higher quarterly earnings driven by the restart of its Slovalco aluminium smelter in Slovakia and new contracts for low-carbon aluminium in Europe. The restart adds around 175,000 tonnes of annual capacity, much of it powered by low-carbon energy sources. Hydro has been positioning itself as a supplier of greener aluminium, which uses hydro and renewable power to cut emissions compared to coal-based smelting. The company also signed several long-term supply agreements with European automakers and construction firms that require certified low-carbon metal. These deals show demand is shifting toward materials with verified emissions reductions. For the carbon market crowd, this is a real example of industrial decarbonization happening through customer requirements, not just policy mandates. The question is how many other smelters can follow Hydro's model without access to cheap hydropower.
