Century Aluminum applauds Trump’s tariffs

US smelter Century Aluminum has applauded President Trump’s latest tariffs.

The US President said on Friday he would increase the Section 232 tariffs on foreign primary aluminium imports from 25% to 50%.

Jesse Gary, the CEO and President of the Chicago headquartered manufacturer, said the step would safeguard the supply of metals critical for national security, while encouraging investments in US job creation.

Mr Gary said: “President Trump has stood firm in his support of US aluminum production and American jobs.
“We thank President Trump for again putting America first and supporting the resurgence of the domestic aluminum industry.”

Century Aluminum is the largest domestic producer of primary aluminium in the United States.

It has smelters in Hawesville, KY, Sebree in Robards, KY, Mt Holly in Goose Creek, SC in the US as well as a site in Akranes, Iceland.

Speaking last month to financial analysts, Mr Gary had previously said the tariffs had enabled companies to source supplies, more locally rather than from abroad.

“The company prides itself on sourcing locally for each of its operations and at Sebree and Mt. Holly we continue to source most of our key cost inputs from American suppliers.
“In response to the President’s groundbreaking actions, we have now taken further steps to shorten and secure the remainder of our major supply chains consistent with the intent of the reciprocal tariff programme.
“I’m proud to say that the team has done a fantastic job and we do not expect any material cost increases as a result of the programme.”

With the support of President Trump’s policies, Century Aluminum said it will build the first new aluminium smelter in the US in 50 years and which will double domestic production.

Speaking to analysts last month Mr Gary said the next two project milestones for the smelter were finalising negotiations for power arrangements and, following on from that, the selection of a site for the smelter.

“Then the next phase after that is further engineering work, which will take you into 2026 before you start to see any significant CapEx spend for the project.”

He added that the company was ‘modeling for a very long lifespan for what will be a 50-year asset once built.’

“The current market environment is a great – it is a very constructive environment to find ourselves in when considering a project.
“And in that, I include the political environment and the dedication of this administration towards reshoring manufacturing.
“So, we think this is the exact type of project that this administration wants to see. And we continue to think that the policy coming out of this administration will continue to be supportive of the project.”

Source: www.aluminiumtoday.com