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<\/p>\nAluminum surged to a 13-year high demand, as the risk of shortages rose for the industrial metal.\u00a0 Prices are up 54% for the year, reaching $3,132 a ton on the London Metal Exchange (LME), its highest price since 2008.<\/p>\n
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The metal is known to industry insiders as \u201csolid electricity\u201d \u2013 being used in everyday consumer items and electronics.\u00a0 Each ton of the essential metal takes about 14 megawatt hours of power to produce.\u00a0 The aluminum industry produces about 65 million tons a year, consuming enough energy to power a G7 nation.<\/p>\n
Aluminum buyers and analysts are bullish on this industrial metal, in light of supply chain disruptions and a European energy crisis.\u00a0 Add to this the looming threat of additional COVID outbreaks and the affect they have on mining operations, and you have an Aluminum market struggling to keep up with demand.<\/p>\n
According to Allied Market Research, the Aluminum Market was valued at $147.2 billion in 2018, and is expected to reach $189.8 billion by 2026, representing a CAGR of 3.2% from 2019 to 2026.<\/p>\n
Alcoa (NYSE:AA) is the US bellwether for aluminum and has had performance significantly ahead of its peers over the last year, rallying +234%.\u00a0 In contrast Australian based Alumina (OTC:AWCMY) is up +7% and Kaiser Aluminum (NASDAQ:KALU) is flat for the year.<\/p>\n
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In the table below we’ve compiled a comp sheet of all the aluminum companies that have US listed tickers.\u00a0 On a valuation basis we believe Century Aluminum (NASDAQ:CENX)\u00a0 screens as one of the most attractive; trading on Forward P\/E and Forward EV\/EBITDA lower than the peer group average.<\/p>\n
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Century Aluminum is a global producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the US and Iceland. It operates three US aluminum smelters in Kentucky and South Carolina and one aluminum smelter in Iceland.<\/p>\n
With an annual production capacity of more than 1 million tons per year, the company produced approximately 794,000 tons of primary aluminum. Century Aluminum also owns a carbon anode production facility in Vlissingen, Netherlands. Glencore accounts for the vast majority of Century Aluminum’s sales. Century Aluminum generates about 65% of sales in the US.<\/p>\n
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<\/p>\n","protected":false},"excerpt":{"rendered":"
Aluminum prices are up 54% for the year, reaching $3,132, its highest price since 2008.\u00a0We identify the aluminum stock with the best valuation.<\/p>\n","protected":false},"author":25,"featured_media":24118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[1871,1870,1872,1868,1869],"class_list":{"0":"post-24123","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-metals","8":"tag-aa","9":"tag-aloca","10":"tag-aluminum","11":"tag-century-aluminum","12":"tag-cenx"},"acf":[],"yoast_head":"\n