Century Aluminum Company reported a net loss of $(52.4) million for Q3 2021, which was negatively impacted by $46.7 million of net exceptional items. However, the adjusted net loss improved sequentially to $(5.7) million, driven by higher aluminum prices and increased regional premiums. Adjusted EBITDA for Q3 2021 was $70.3 million, an increase of $36.4 million from the prior quarter.
Realized LME aluminum price of $2,375/T in third quarter is up $220/T from prior quarter
Realized regional premiums of $670/T and $245/T for U.S. Midwest and EU Duty Paid, respectively, up $180/T and $70/T from prior quarter
Inventories at post financial crisis lows
Announced casthouse expansion project into low-carbon billet production for Grundartangi, Iceland smelter
Century expects its expansion projects at Hawesville and Mt. Holly to be substantially complete by year end and expects to continue to deliver strong results in the fourth quarter and beyond, despite inflationary pressure in key raw materials.
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