Aluminum Stocks Plummet Over 10% Despite Strong Earnings

Century Aluminum (NASDAQ: CENX) closed at $57.40 on the Nasdaq, down 6.58%. Trading volume topped 1.26 million shares, and its market capitalization fell to roughly $5.68 billion (about ₩7.7 trillion), erasing around $350 million (approximately ₩470 billion) in value in a single day.

In its first-quarter results announced on May 7, the company reported revenue slightly below market expectations and GAAP earnings that missed forecasts, but its adjusted EBITDA jumped 35% quarter-over-quarter, underscoring solid operational strength. Following strong performance and a steep share-price rally since last year, profit-taking, a recent “sell-the-news” reaction and weakness in the materials sector have combined to accelerate the short-term decline in recent days.

Headquartered in Chicago, Century Aluminum is a primary aluminum smelter operating facilities in the U.S. and Iceland, supplying premium aluminum for electric vehicles, aerospace and construction. While the company stands to benefit from U.S. aluminum tariffs and green-infrastructure investment, its results remain highly sensitive to power costs and aluminum-price fluctuations, marking it as a classic cyclical, commodity-sensitive stock.