Core Viewpoint - Glencore has reduced its stake in Century Aluminum by 10% to 33%, capitalizing on a share price increase driven by U.S. tariffs on aluminum imports and a surge in profits for local aluminum smelters [1][2]. Company Summary - Glencore is Century Aluminum's largest shareholder, supplying alumina and purchasing nearly all of Century's North American aluminum production for U.S. customers [2]. - On November 10, Glencore sold 9 million shares from its 40 million shareholding for $272.25 million and converted its Series A Convertible Preferred Stock into 4.95 million ordinary shares [2][3]. - Following the transactions, Glencore retains approximately 36 million shares, representing about 33% of Century's equity, down from 43% previously [3]. Industry Summary - Century Aluminum is the largest primary aluminum producer in the U.S., producing 690,000 metric tons last year, primarily for construction, power, and packaging industries [4]. - The U.S. imported 3.94 million tons of aluminum last year, indicating a reliance on foreign sources [4]. - U.S. consumers pay the benchmark price on the London Metal Exchange plus a Midwest premium, which recently reached a record of 88.21 U.S. cents per pound or $1,944 per ton [5].