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AL CIRCLE

Century Aluminum sees higher demand, restarts capacity, and plans 750,000-tonne smelter

EDITED BY : 2MINS READ

aluminium demand

Century Aluminum Company (CENX) is seeing support from strong demand for aluminium. Demand is linked to industrial activity and use in key sectors. Prices are influenced by the London Metal Exchange and regional premiums, which remain firm.

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The company operates smelters in the United States and Iceland. Its total production capacity is about 770,000 tonnes per year. In 2025, it produced about 638,000 tonnes of primary aluminium, and shipments reached over 647,000 tonnes. Its main plants include Grundartangi in Iceland, Sebree in Kentucky, and Mt. Holly in South Carolina.

For the global aluminium value-chain 2026 outlook, book our exclusive report “Global ALuminium Industry Outlook 2026"

The Mt. Holly smelter is being brought back to full capacity. Production is expected to be restored by the second quarter of 2026. The company has also secured a power supply agreement with Santee Cooper until 2031. This supports stable operations.

Century Aluminium also holds a 55 per cent stake in the Jamalco joint venture in Jamaica. This provides alumina, which is needed for aluminium production.

In January 2026, the company signed a deal with Emirates Global Aluminium. The plan is to build a new smelter in Oklahoma. The project is expected to produce about 750,000 tonnes of aluminium per year.

Also read: EGA reroutes aluminium trade through Oman amid Hormuz disruption

Among peers, Ryerson Holding Corporation (RYZ) reported aluminium shipments of 185,000 tonnes in 2025. Revenue from this segment was USD 1.15 billion, up 10.4 per cent. Constellium SE (CSTM) reported shipments of 1 million tonnes, up 6 per cent. Revenue from this segment rose 21 per cent to USD 5.1 billion.

Century Aluminum’s share price has risen strongly in recent months. Its valuation remains below the industry average. Earnings estimates for 2026 have also increased.

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CENX’s shares have risen 64.6 per cent in the past three months, compared to industry growth of 2.1 per cent. The company is trading at a forward price-to-earnings ratio of 1.63X, below the industry average of 2.07X. Earnings estimates for 2026 have increased by 42.1 per cent over the past 60 days.

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EDITED BY : 2MINS READ

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