Core Viewpoint - Century Aluminum is positioned to benefit significantly from favorable U.S. industrial policies, particularly due to increased tariffs on aluminum imports, which have led to a surge in domestic premiums and a strong financial outlook for the company [1][2][15]. Group 1: Market Position and Catalysts - The U.S. trade policy, specifically the increase of Section 232 tariffs on aluminum imports to 50% in June 2025, has made foreign aluminum more expensive, providing a competitive edge to domestic producers like Century Aluminum [2][3]. - The U.S. Midwest premium, a key revenue component for Century, has surged due to the higher costs of foreign supply, directly impacting the company's profitability [3][4]. - Century Aluminum's stock has increased over 60% in the past year, reflecting investor confidence in the company's strategic advantages and growth potential [1]. Group 2: Financial Performance and Investments - For Q3 2025, Century Aluminum projects an Adjusted EBITDA between $115 million and $125 million, attributing this optimistic forecast to the benefits of higher domestic premiums [4]. - The company is investing approximately $50 million to restart idled capacity at its Mt. Holly smelter, which is expected to enhance future revenue-generating capacity [6][15]. - In July 2025, Century refinanced $400 million of its senior notes, reducing annual interest payments and extending debt maturity to 2032, thereby improving financial flexibility [7][8]. Group 3: Future Growth and Strategic Initiatives - Century Aluminum plans to build a new, low-emission U.S. smelter, potentially receiving up to $500 million in funding from the Department of Energy, which would mark the first new U.S. smelter in nearly 50 years [9][10]. - This new smelter is expected to create over 100 high-wage manufacturing jobs and increase U.S. primary aluminum production by nearly 10% [14]. - The company is well-positioned as a pure-play U.S. producer, making it an attractive investment opportunity amid the resurgence of American industry [15][16].