Century Aluminum's stock experienced a significant decline of 5.32% during intraday trading on Wednesday, reflecting investor concerns over potential changes to U.S. trade policies affecting the aluminum industry.

The price movement appears to be linked to reports that the Trump administration is preparing to reshape its steel and aluminum tariff regime. According to the Wall Street Journal, the administration plans to set a 25% tariff on finished products containing aluminum, which would apply to the entire value of such imported goods rather than just their aluminum content. While intended to simplify compliance, this change could effectively raise costs for many aluminum-containing imports, potentially reducing demand for the metal.

Market participants may be concerned that higher costs for finished aluminum products could negatively impact aluminum consumption, which would affect producers like Century Aluminum. The administration's move comes after months of deliberations on how to rewrite steel and aluminum tariffs, with the goal of supporting domestic production but potentially creating headwinds for aluminum demand in certain applications.