Slovalco still in the red but tariffs on Chinese aluminum imports will help
Žiar nad Hronom-based Slovalco, an aluminum smelter 55% owned by Norsk Hydro and 45% by Penta, managed to cut its losses 38% to €25.8m in 2020 after its sales shrank 25% to €282.8m. Back in 2018 its sales stood at €400m. It will benefit from the recent EU decision to slap 19-47% tariffs on Chinese aluminum imports, as well as from the economic recovery that drives up demand. On the other hand, it must cope with rising prices of emission allowances.
(trend.sk)