Norwegian aluminium producer Norsk Hydro (NHY.OL) said on Thursday it had ramped up its cost saving programme and saw increased global demand this year. "Hydro has accelerated the USD 300 per tonne improvement program which is now expected to be achieved in 2013, a year earlier than previously indicated," its said in a statement published ahead of its capital markets day in Oslo. It said it had realised savings of $50 per tonne and targeted a further $125 per tonne for 2011. Hydro launched its first efficiency push in the autumn of 2009. The firm said said it saw aluminium demand growing about 7 percent this year and 3-6 percent in 2012, adding it expected an improved supply and demand balance.
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