Century Aluminum to temporarily idle Kentucky plant on high energy prices

Jun. 22, 2022 4:20 PM ETCentury Aluminum Company (CENX)By: Carl Surran, SA News Editor4 Comments

Alcoa Aluminum Factory

Sean Gallup/Getty Images News

Century Aluminum (NASDAQ:CENX) said on Wednesday it will closee its smelter in Hawesville, Kentucky, for 9-12 months as "a direct result of skyrocketing energy costs," affecting more than 600 workers.

The Hawesville facility is Century's (CENX) largest smelter in the U.S. and the largest producer of military-grade aluminum in North America.

The company said the power cost required to run the plant has "more than tripled the historical average in a very short period."

Century Aluminum (CENX) shares touched a 52-week low of $8.44 in Wednesday's trading as prices for aluminum and other industrial metals continue to fall sharply.

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