Century Aluminum's stock soared 5.03% during intraday trading on Tuesday, reflecting strong positive investor sentiment.
The significant price movement follows B. Riley raising its price target on Century Aluminum to $68 from $64 while maintaining a Buy rating on the shares. Concurrently, Century Aluminum, along with its partner Emirates Global Aluminium (EGA), announced an agreement with U.S. Aluminum Company to explore the development of an aluminum fabrication plant near the planned Oklahoma Primary Aluminum smelter in Inola.
This strategic partnership is a key development for the Oklahoma aluminum hub, which is projected to double U.S. primary aluminum production and establish the state as a national center for aluminum manufacturing. The agreement marks the first downstream exploratory deal for the major smelter project, highlighting growing industrial commitment and the potential for a robust manufacturing ecosystem around the new facility.
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