First New U.S. Aluminum Smelter in Nearly 50 Years to Be Built
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3d ago
0mins
Source: Yahoo Finance
- Doubling Aluminum Production: Emirates Global Aluminium and Century Aluminum have entered a joint development agreement to build the first new aluminum smelter in the U.S. since 1980, expected to produce 750,000 tonnes annually, significantly enhancing domestic aluminum supply capabilities.
- Job Creation: The new facility will create 4,000 jobs during construction and 1,000 permanent positions upon completion, anticipated to generate thousands of new manufacturing jobs in the U.S. aluminum sector, thereby aiding economic recovery.
- Advanced Technology Implementation: The project will utilize EGA's latest EX technology, the most advanced aluminum smelting technology installed in the U.S., combined with Century's extensive operational experience, aimed at improving smelting efficiency and production quality.
- Regional Economic Development: Located in an industrial park in Oklahoma, the new plant is expected to drive the development of an aluminum-focused industrial hub in the region, creating additional economic opportunities and enhancing the competitiveness of the U.S. aluminum industry.
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Analyst Views on CENX
Wall Street analysts forecast CENX stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for CENX is 40.67 USD with a low forecast of 34.00 USD and a high forecast of 46.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 49.000
Low
34.00
Averages
40.67
High
46.00
Current: 49.000
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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