Century’s Primary Aluminum Shipments Witnessed Marginal Decline

SEATTLE (Scrap Monster): Century Aluminum Company reported second quarter 2021 results.

The company’s primary aluminum shipments during the quarter witnessed marginal decline pby 2% from the prior quarter to total 195,697 tonnes. The pace of restart activities at Mt. Holly smelter was delayed due to supply chain disruptions, which in turn impacted the shipments. Robust aluminum prices coupled with strong regional premiums resulted in 19% sequential surge in sales, which stood at $444 million in Q2 this year, said the company press release.

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The company reported net loss of $35.1 million. However, this is significant improvement over the prior quarter. The results were adversely impacted by $7.8 million of net exceptional items. The adjusted net loss and adjusted EBITDA were $27.3 million and $34.4 million respectively. The liquidity at the end of the quarter was $108.6 million.

Jesse Gary, President and CEO, Century Aluminum Company said that the U.S. and Europe inventories have already retuned to pre-pandemic levels. Also, the demand for value-added products is at near all-time highs. The company’s focus will be to bring additional production line online by way of previously announced expansion project at Mt.Holly and attaining targeted production at Hawesville smelter.