Century Aluminum (CENX) shares surged 5.02% during Thursday's intraday trading session, following the company's announcement of plans to restart full production at its Mt. Holly, South Carolina plant. This strategic move is expected to increase U.S. aluminum production by a significant 10%.
The company cited the benefits of Section 232 tariffs as a key factor in its decision to ramp up operations. These tariffs, implemented to protect U.S. industries from foreign competition, appear to have created a more favorable environment for domestic aluminum producers like Century Aluminum.
This development is likely to have a substantial positive impact on Century Aluminum's operations and financial performance. The restart of full production at the Mt. Holly plant not only signals increased capacity but also suggests improved market conditions and demand for aluminum in the United States. Investors seem to be reacting positively to the prospect of increased revenue and market share for the company in the wake of this announcement.