Emirates Global Aluminium and Century Aluminum Partner to Build First U.S. Aluminum Smelter in 45 Years
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Should l Buy CENX?
Source: Newsfilter
- Aluminum Smelter Partnership: Emirates Global Aluminium and Century Aluminum are partnering to build the first aluminum smelter in the U.S. in over 45 years, utilizing state-of-the-art smelting technology to enhance domestic aluminum production capabilities for American industries.
- Job Creation: The new smelter is expected to create 5,000 jobs, injecting vitality into the local economy and establishing Inola, Oklahoma as a hub for critical metals, thereby promoting regional economic development.
- Strategic Implications: This collaboration signifies a revival of the U.S. aluminum industry, addressing the growing domestic demand for aluminum while aligning with government policies aimed at revitalizing manufacturing and enhancing national self-sufficiency in critical metals.
- High-Level Meeting: EGA CEO Abdulnasser Bin Kalban and Century Aluminum CEO Jesse Gary met with U.S. Energy Secretary Chris Wright to emphasize their strategic partnership in aluminum smelting, showcasing the close ties between business and government.
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Analyst Views on CENX
Wall Street analysts forecast CENX stock price to fall
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 49.700
Low
34.00
Averages
40.67
High
46.00
Current: 49.700
Low
34.00
Averages
40.67
High
46.00
About CENX
Century Aluminum Company is a global producer of primary aluminum and operates aluminum reduction facilities, or smelters. The Company's annual production capacity is approximately 1,020,000 tons per year (tpy). It owns a carbon anode production facility located in the Netherlands (Vlissingen). Carbon anodes are consumed in the production of primary aluminum. Vlissingen supplies carbon anodes to its aluminum smelter in Grundartangi, Iceland. Each of its aluminum smelters in the United States produces anodes at on-site facilities. Through its Natur-Al product line, it provides low-carbon aluminum products. It operates three United States aluminum smelters, in Hawesville, Kentucky (Hawesville), Robards, Kentucky (Sebree) and Goose Creek, South Carolina (Mt. Holly), and one aluminum smelter in Grundartangi, Iceland (Grundartangi). The Grundartangi facility, is an aluminum reduction facility owned and operated by the Company’s wholly owned subsidiary, Nordural Grundartangi ehf.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Inflation Data Impact: The US January CPI rose 2.4% year-over-year, below the expected 2.5%, which may prompt the Fed to continue cutting rates, with the 10-year T-note yield falling to 4.05%, providing support for the market.
- Earnings Performance: Over two-thirds of S&P 500 companies have reported earnings, with 76% exceeding expectations, and Q4 earnings growth is projected at 8.4%, demonstrating corporate resilience and restoring market confidence.
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- Industry Response: Following the news, aluminum and steel sector stocks rose on Friday, reflecting investor optimism regarding the potential tariff reductions, which could enhance corporate profitability.
- Market Impact: If tariffs are lowered, production costs may decrease, thereby improving the competitiveness of U.S. manufacturing, fostering economic growth, and creating job opportunities.
- Strategic Implications: This policy adjustment could not only enhance the domestic market environment but also influence international trade relations, particularly in negotiations with major aluminum and steel producing countries.
See More
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Century Aluminum Performance: Century Aluminum's stock has seen a more significant drop of 9%, reflecting challenges in its business operations.
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