Update on the recent price development of Nordic Hydro GOs

The prices of Nordic Hydro GOs have dropped in recent weeks to levels last seen during July. The price movement is largely driven by intermediaries who are selling their long positions. The main producers are not selling large volumes at these prices and there is also an absence of buyers at the moment. This reinforces the illiquidity in the market. Furthermore, reservoir levels have been recovering in Norway and Sweden, but they are still below normal. This is especially the case for reservoirs in North-Norway. The following news article shows the reservoir developments along with the historical price of Nordic Hydro GOs.