Source: Reuters
“U.S. import tariffs haven’t been enough to stop the United States losing another aluminium smelter, leaving the country with just five primary metal production plants. Century Aluminum suspended production at its Hawesville smelter in 2022 as energy prices spiked in the wake of Russia’s invasion of Ukraine. The company expected to resume operations within a year once power prices abated. But they didn’t, and Century has now sold the Kentucky site to digital infrastructure company TeraWulf. U.S. President Donald Trump hiked aluminium import tariffs to 50% last year with the stated goal of halting the decades-long slide in domestic primary metal capacity. The immediate impact has been limited to Century’s restart of 50,000 metric tons of annual capacity at its Mount Holly smelter in South Carolina. Tariffs helped, but an extension, opens new tab of the current power supply deal with local energy provider Santee Cooper was arguably more important.” (02/18/26)