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Why Shares in Century Aluminum Soared Today

·2 min read
Why Shares in Century Aluminum Soared Today
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Shares of aluminum-producer Century Aluminum (NASDAQ: CENX) rose a whopping 11.4% as of 3 p.m. EDT today. Given that stocks across the aluminum sector, such as Alcoa and Kaiser Aluminum, rose strongly, as well, it's fair to say that this is a sector-wide move rather than purely a stock-specific one. China is responsible for producing 60% of the world's aluminum, so a slump in demand from China would create a glut that would play out in lower global prices.