Century Aluminum supports increased aluminum tariffs, plans to build a new smelter, boosting U.S. production and jobs.
Quiver AI Summary
Century Aluminum Company has expressed strong support for President Trump's decision to raise aluminum tariffs from 25 percent to 50 percent, reinforcing domestic production of critical metals essential for national security. This tariff increase encourages investment in U.S. job creation and supports Century Aluminum’s plan to construct the first new aluminum smelter in the U.S. in 50 years, doubling domestic aluminum production. Jesse Gary, the company's President and CEO, praised the President for his commitment to American jobs and the domestic aluminum industry. Century Aluminum is the largest primary aluminum producer in the United States and also operates in Iceland, the Netherlands, and Jamaica.
Potential Positives
- Century Aluminum will build the first new aluminum smelter in the U.S. in 50 years, demonstrating significant investment in domestic production.
- The increase in aluminum tariffs to 50 percent may strengthen Century Aluminum's competitive position in the market by reducing foreign competition.
- The announcement supports job creation in the U.S., aligning the company with national interests and potentially enhancing its public image.
- As the largest domestic producer of primary aluminum in the U.S., the company is positioned to benefit from governmental support for the resurgence of the domestic aluminum industry.
Potential Negatives
- The press release heavily relies on political support, which could be risky if political circumstances change or if public opinion shifts against the administration's policies.
- The announcement of building a new aluminum smelter may imply significant financial and operational risks associated with executing a project that has not been undertaken in 50 years.
- By focusing on tariffs and political support, the company may alienate potential international partners and markets that view such protectionist measures unfavorably.
FAQ
What is Century Aluminum's recent announcement regarding aluminum tariffs?
Century Aluminum supports President Trump's decision to increase aluminum tariffs from 25% to 50%, enhancing domestic production security.
How does the tariff increase benefit the U.S. aluminum industry?
The tariff increase is expected to safeguard national security and promote investment and job creation in the domestic aluminum industry.
What new development is Century Aluminum planning?
Century Aluminum plans to build the first new aluminum smelter in the U.S. in 50 years and double domestic production capacity.
Who leads Century Aluminum Company?
Jesse Gary is the President and CEO of Century Aluminum Company, advocating for domestic aluminum production and American jobs.
Where does Century Aluminum operate production facilities outside the U.S.?
Century Aluminum operates production facilities in Iceland, the Netherlands, and Jamaica in addition to its U.S. operations.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CENX Insider Trading Activity
$CENX insiders have traded $CENX stock on the open market 5 times in the past 6 months. Of those trades, 0 have been purchases and 5 have been sales.
Here’s a breakdown of recent trading of $CENX stock by insiders over the last 6 months:
- JESSE E GARY (President and CEO) has made 0 purchases and 2 sales selling 79,243 shares for an estimated $1,478,739.
- GUNNAR GUDLAUGSSON (EVP - Global Operations) sold 20,000 shares for an estimated $477,000
- ROBERT F HOFFMAN (SVP, IT and CAO) has made 0 purchases and 2 sales selling 7,500 shares for an estimated $151,174.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CENX Hedge Fund Activity
We have seen 118 institutional investors add shares of $CENX stock to their portfolio, and 149 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CITADEL ADVISORS LLC added 1,672,610 shares (+532.6%) to their portfolio in Q1 2025, for an estimated $31,043,641
- CASTLE HOOK PARTNERS LP removed 1,508,737 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $27,489,188
- WEXFORD CAPITAL LP added 1,169,553 shares (+inf%) to their portfolio in Q1 2025, for an estimated $21,706,903
- WOODLINE PARTNERS LP added 1,040,812 shares (+inf%) to their portfolio in Q1 2025, for an estimated $19,317,470
- INVESCO LTD. removed 973,692 shares (-51.0%) from their portfolio in Q1 2025, for an estimated $18,071,723
- ENCOMPASS CAPITAL ADVISORS LLC added 750,000 shares (+inf%) to their portfolio in Q1 2025, for an estimated $13,919,999
- MOORE CAPITAL MANAGEMENT, LP removed 657,985 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $12,212,201
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
CHICAGO, June 02, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) applauds President Trump’s unwavering defense of the nation’s domestic production of critical metals by increasing aluminum tariffs to 50 percent.
President Trump’s action, announced in Pittsburgh on Friday, increases the Section 232 tariffs on foreign primary aluminum imports from 25 percent to 50 percent. This bold step safeguards the supply of metals critical for national security, while encouraging investments in U.S. job creation. With the support of President Trump’s policies, Century Aluminum has announced that it will build the first new aluminum smelter to be built in the U.S. in 50 years and double domestic production.
“President Trump has stood firm in his support of U.S. aluminum production and American jobs,” said Jesse Gary, President and CEO. “We thank President Trump for again putting America first and supporting the resurgence of the domestic aluminum industry.”
Century Aluminum is the largest domestic producer of primary aluminum in the United States.
About Century Aluminum
Century Aluminum is an integrated producer of bauxite, alumina, and primary aluminum products. Century is the largest producer of primary aluminum in the United States, and also operates production facilities in Iceland, the Netherlands and Jamaica. Visit www.centuryaluminum.com for more information.
Cautionary Statement
This press release and statements made by Century Aluminum Company management on the quarterly conference call contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to the "safe harbor" created by section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are statements about future events and are based on our current expectations. These forward-looking statements may be identified by the words "believe," "expect," "hope," "target," "anticipate," "intend," "plan," "seek," "estimate," "potential," "project," "scheduled," "forecast" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," "might," or "may."
Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, our forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Important factors that could cause actual results and events to differ from those described in such forward-looking statements can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and in other filings made with the Securities and Exchange Commission. Although we have attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that could cause actual results or events to differ from those anticipated, estimated or intended. Many of these factors are beyond our ability to control or predict. Given these uncertainties, the reader is cautioned not to place undue reliance on our forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
INVESTOR CONTACT
Ryan Crawford
312-696-3132
MEDIA CONTACT
Tawn Earnest
614-698-6351
Source: Century Aluminum Company