Market Chatter: Century Aluminum Rejects Smelter Proposal; Shares Slip 3%

By Staff,

Shutterstock photo

Century Aluminum ( CENX ) has rejected a proposal to help restart its West Virginia smelter after the electricity rate offer from the state fell short of its needs, SeekingAlpha reported.

CENX shares are down 2.7% to $7.14 in afternoon trade, and are moving within a 52-week range of $5.52 - $12.30.

The utility regulator had proposed allowing a special electricity rate for up to 10 years, but the ruling also would've held the company responsible for making up the difference between that rate and actual power costs. The company says it's reviewing alternatives.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CENX

More from MT Newswires


MT Newswires

MT Newswires

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by