Century Aluminum Announces First Quarter Loss

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It’s been a rough few years for the aluminum industry which has been a big player in the Tri-State’s local economy.

Alcoa recently shut down its Warrick smelter.

Century Aluminum’s Hawesville smelter has been operating at 40%.

Hundreds have been laid off and the picture is just as grim company-wide.

Century Aluminum announces a net loss of $16 million in the first quarter of the year – 19 cents per share.

The business blames China for flooding the market with cheap aluminum – driving down its price.

Due to Chinese subsidies, US manufacturers simply can’t produce it for the going rate.

Tina Stein has been digging into the subject and was invited to the Hawesville smelter where she got to talk with the people impacted by this ever-changing market.

Her special report, a Commodity in Crisis airs on May 9 on Eyewitness News at 6.

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