Century Aluminum Commences Expanded Production at Mt. Holly Smelter

Rhea-AI Summary

Century Aluminum (NASDAQ: CENX) has begun hot metal production after expanding its Mt. Holly, SC smelter, with full production expected by end of June 2026. The project raises total U.S. primary aluminum production by 10% and created over 125 jobs in South Carolina.

Century also reaffirmed plans with Emirates Global Aluminum for a new Oklahoma smelter that would add 750,000 tonnes, double U.S. capacity, and create substantial direct and construction employment.

AI-generated analysis. Not financial advice.

Positive

• U.S. output +10% by end of June 2026
• Mt. Holly expansion created >125 direct jobs in South Carolina
• Planned Oklahoma smelter adds 750,000 tonnes, doubling U.S. capacity
• Oklahoma project expected to create >1,000 direct jobs and 4,000 construction jobs

Negative

• None.

News Market Reaction – CENX

-5.14%

16 alerts

-5.14% News Effect

-7.1% Trough in 27 min

-$352M Valuation Impact

$6.49B Market Cap

0.2x Rel. Volume

On the day this news was published, CENX declined 5.14%, reflecting a notable negative market reaction. Argus tracked a trough of -7.1% from its starting point during tracking. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $352M from the company's valuation, bringing the market cap to $6.49B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Mt. Holly expansion impact: 10% Mt. Holly jobs: over 125 jobs New smelter capacity: 750,000 tonnes +5 more

8 metrics

Mt. Holly expansion impact 10% Increase to total U.S. primary aluminum production from Mt. Holly project

Mt. Holly jobs over 125 jobs New jobs created in South Carolina from Mt. Holly expansion

New smelter capacity 750,000 tonnes Planned primary aluminum capacity at Oklahoma smelter with EGA

Direct jobs – Oklahoma over 1,000 jobs Expected direct jobs from new Oklahoma smelter

Construction jobs – Oklahoma 4,000 jobs Expected construction jobs from new Oklahoma smelter

Smelter timing nearly 50 years First new primary aluminum smelter in U.S. in nearly 50 years

Full production target end of June 2026 Expected timing for Mt. Holly expansion to reach full production

National production impact doubling current U.S. capacity Oklahoma smelter expected to double current U.S. primary aluminum capacity

Market Reality Check

Price: $60.18 Vol: Volume 1,072,587 is 0.45x...

low vol

$60.18 Last Close

Volume Volume 1,072,587 is 0.45x the 20-day average of 2,388,055, indicating subdued trading ahead of this expansion news. low

Technical Price at 65.61 is trading above the 200-day MA 35.89 and sits about 4.5% below the 52-week high 68.69, far above the 52-week low 14.77.

Peers on Argus

Peer moves are mixed: AA down about 4.08% and KALU up about 1.92%, with only one...

1 Up 1 Down

Peer moves are mixed: AA down about 4.08% and KALU up about 1.92%, with only one peer in each direction, suggesting this expansion headline is more stock-specific than a broad aluminum sector move.

Historical Context

5 past events · Latest: Apr 02 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 02	Tariff enforcement support	Positive	-1.5%	Company praised executive order reinforcing Section 232 aluminum tariffs and expansion.
Mar 23	Leadership promotion	Positive	+8.1%	Promotion of Levi Chaffin to SVP Operations, Americas to drive efficiency and growth.
Feb 24	Oklahoma hub agreement	Positive	+3.2%	Agreement to develop downstream plant near planned Oklahoma smelter to double U.S. output.
Feb 23	Conference participation	Neutral	-1.5%	CEO participation in BMO metals and mining conference with webcast access for investors.
Feb 20	Tariff ruling statement	Positive	+0.3%	Supportive statement on IEEPA tariffs ruling and multibillion-dollar capacity expansion plans.

Pattern Detected

Recent company news has often been positive on tariffs, capacity, and leadership, with share reactions mixed: some gains on leadership and growth items, but also modest declines around policy commentary and conferences.

Recent Company History

Over the past few months, Century Aluminum has repeatedly highlighted tariff support and capacity growth. On Feb 20, 2026, it referenced Mt. Holly-driven production gains and plans with EGA to double U.S. primary aluminum production. A Feb. 24 agreement aimed to anchor an Oklahoma manufacturing hub. Leadership and conference updates followed in late February and March. Today’s Mt. Holly expansion milestone continues this theme of U.S. capacity expansion and job creation within the same strategic framework.

Market Pulse Summary

The stock moved -5.1% in the session following this news. A negative reaction despite expansion news...

Analysis

The stock moved -5.1% in the session following this news. A negative reaction despite expansion news would fit periods where positive policy or conference updates saw muted or adverse moves. While the Mt. Holly project adds 10% to U.S. production and the Oklahoma smelter targets 750,000 tonnes, the stock previously declined after tariff-related commentary. Investors might have focused on execution risks or prior run-up toward the 52-week high rather than the long-term growth narrative.

Key Terms

primary aluminum, hot metal, smelter, section 232 aluminum tariff, +1 more

5 terms

primary aluminum technical

"increase total U.S. primary aluminum production by 10%"

Primary aluminum is the metal produced directly from mined ore rather than from recycled scrap, made by extracting and refining aluminum from bauxite in large, energy‑intensive plants. Investors watch it because its supply, production costs (especially energy), and global demand are leading indicators of industrial activity and profit margins for producers—think of it like virgin lumber versus reclaimed wood: the raw, newly made product sets prices and signals factory activity.

hot metal technical

"production of the first hot metal has begun following the expansion project"

Molten metal freshly produced in a foundry or steel mill, poured or cast while still hot and pliable; think of it like liquid batter poured into molds to form metal parts. It matters to investors because the quantity, quality and timing of hot metal production drive supply, delivery schedules and costs for metal products, so disruptions or changes can quickly affect commodity prices, manufacturer margins and related company profits.

smelter technical

"build the first primary aluminum smelter in the U.S. in nearly 50 years"

A smelter is an industrial plant that heats and processes mined ore to extract and produce usable metal (like copper, aluminum or nickel), turning raw rock into market-ready metal much as a kitchen turns raw ingredients into a finished meal. Investors care because smelters are costly to build and operate, they control how much refined metal enters the market, and their output, costs, and environmental or regulatory issues can directly affect commodity prices and company profits.

section 232 aluminum tariff regulatory

"President’s Trump’s Section 232 aluminum tariff is driving record investment"

A Section 232 aluminum tariff is a government duty placed on imported aluminum after a national security review finds that foreign supply could threaten domestic industry. For investors, it matters because tariffs raise the cost and availability of aluminum for manufacturers, acting like a hidden tax that can squeeze profit margins, shift supply chains, change competitive dynamics, and affect the value of companies that use or produce aluminum.

critical mineral technical

"production of this critical mineral and expand on our position"

A critical mineral is a naturally occurring element or metal that is essential for modern technologies—like batteries, electronics, clean energy systems and defense—and whose supply is vulnerable to disruption. Investors care because these minerals act like key building blocks: shortages, geopolitical controls, or production bottlenecks can sharply raise costs, stall product rollouts, change profit forecasts, and prompt government policy or subsidies that affect company valuations.

AI-generated analysis. Not financial advice.

Expansion Project Adds 10% to Total U.S. Production

CHICAGO, April 16, 2026 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) announced today that production of the first hot metal has begun following the expansion project at its Mt. Holly, S.C. plant. This major expansion, which Century expects to reach full production by the end of June 2026, will increase total U.S. primary aluminum production by 10% and has already created over 125 good-paying jobs in South Carolina. The expansion project increases Century’s leading position as the largest producer of primary aluminum in the United States.

In addition to the Mt. Holly expansion project, Century announced in January that it would join forces with Emirates Global Aluminum to build the first primary aluminum smelter in the U.S. in nearly 50 years. The new Oklahoma-based smelter will create another 750,000 tonnes of primary aluminum production, doubling current U.S. capacity. It is expected to be the largest single investment in the production of a critical metal in U.S. history and will add over 1,000 direct jobs and 4,000 construction jobs.

“We’re so proud to be doing our part to increase domestic production of this critical mineral and expand on our position as the largest producer of primary aluminum in the United States,” said Jesse Gary, President and CEO of Century Aluminum. “President’s Trump’s Section 232 aluminum tariff is driving record investment in American aluminum production. The case for domestic production is stronger than ever, with supply chain disruptions abroad again demonstrating the need for a resilient domestic supply of this critical metal that is essential to U.S. economic and national security.”

About Century Aluminum Company

With its corporate headquarters located in Chicago, IL, Century Aluminum owns and operates primary aluminum smelting facilities in the United States and Iceland and is the majority owner and managing partner of the Jamalco alumina refinery in Jamaica. Visit www.centuryaluminum.com for more information.

Investors: Chad Rigg, 312.696.3132, investorrelations@centuryaluminum.com 
Media: Tawn Earnest, 614.698.6351, tawn.earnest@centuryaluminum.com

FAQ

What production increase does CENX expect from the Mt. Holly expansion by June 2026?

The Mt. Holly expansion will increase U.S. primary aluminum output by 10%. According to Century Aluminum, first hot metal is underway and the project is expected to reach full production by the end of June 2026, boosting domestic supply and capacity.

How many jobs did the Mt. Holly expansion create for South Carolina, and what types are they?

The expansion has already created over 125 good-paying jobs in South Carolina. According to Century Aluminum, these are direct roles tied to expanded operations at the Mt. Holly smelter supporting higher production levels.

What is the scale and expected impact of the planned Oklahoma smelter tied to CENX and EGA?

The planned Oklahoma smelter would add 750,000 tonnes, effectively doubling U.S. primary aluminum capacity. According to Century Aluminum, the project is expected to be the largest single investment in U.S. primary aluminum production and create large employment numbers.

When will Mt. Holly reach full production and how did Century describe the strategic rationale?

Full production is expected by end of June 2026. According to Century Aluminum, the expansion supports strengthening domestic supply chains and reinforces its position as the largest U.S. primary aluminum producer amid policy-driven investment.

How many jobs does Century say the Oklahoma smelter will create and over what phases?

Century projects the Oklahoma smelter will add over 1,000 direct jobs plus 4,000 construction jobs. According to Century Aluminum, the figures cover permanent operational roles and the construction phase for the new facility.

How does Century link U.S. policy to its investment in domestic aluminum production?

Century cites Section 232 tariffs as driving record investment in U.S. aluminum production. According to Century Aluminum, policy measures and supply disruptions abroad strengthen the case for resilient domestic supply of this critical metal.