Trump Cuts Tariffs to 25% for New US Aluminum Smelters, Boosting Century's $4B Project
CENX has more than doubled off its 52-week low of $19.94.
Summary
President Trump signed an executive order today that reduces the tariff on primary aluminum imports to 25% from 50% for companies investing in new U.S. production. This directly benefits Century Aluminum's planned $4 billion smelter in Oklahoma, a joint venture with Emirates Global Aluminum that would more than double domestic output. The tariff cut improves the project's economics at a critical time—Oklahoma's Attorney General filed a lawsuit last month seeking to block construction. CEO Jesse Gary called the move a boost to the company's commitment to supply defense and aerospace industries. The smelter is expected to add 750,000 tonnes of capacity and over 1,000 jobs. This follows Century's recent Mt. Holly expansion, which will increase U.S. production by 10%.
At the time of this announcement, CENX was trading at $42.74 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $4.2B. The 52-week trading range was $19.94 to $70.43. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.