10 Best Aluminum and Aluminum Mining Stocks To Buy

4. Century Aluminum Company (NASDAQ:CENX) 

Number of Hedge Fund Holders: 31

Century Aluminum Company (NASDAQ:CENX) produces high-quality, low-carbon aluminum for the automotive, construction, and packaging industries. The company owns and operates aluminum smelting facilities in the United States, Iceland, and the Netherlands. Additionally, Century Aluminum Company (NASDAQ:CENX) is the majority owner of the Jamalco alumina refinery in Jamaica.

Century Aluminum Company (NASDAQ:CENX) is actively evaluating opportunities to redevelop its Hawesville facility, the company’s largest U.S. plant, with a production capacity of around 250,000 metric tonnes of high-purity aluminum per year. The company has received strong interest from third parties to utilize the site for alternative purposes. However, Century Aluminum Company (NASDAQ:CENX) has engaged financial advisors for the overall evaluation of the site, as it has a significant value as an option for restart due to the higher aluminum price.

Previously, Century Aluminum Company (NASDAQ:CENX) was exposed to the fluctuations of the spot market for alumina, meaning its costs were subject to unpredictable price changes. However, after acquiring a controlling interest in Jamalco, an alumina production company, Century Aluminum Company (NASDAQ:CENX) is no longer reliant on volatile market prices. Instead, the company now sources its smelter alumina requirements directly from Jamalco or through long-term supply contracts linked to London Metal Exchange (LME) prices.

This change has allowed Century Aluminum Company (NASDAQ:CENX) to secure a more stable and predictable supply of alumina, reducing exposure to market volatility. The company is also capitalizing on favorable market dynamics with strong operational performance, notably at its smelters.