Century Aluminum Stock Surges 13% Following Wells Fargo’s Bullish Initiation

Century Aluminum (CENX) soared nearly 13% on Wednesday, dramatically outpacing the broader market's 0.6% gain. The rally followed Wells Fargo's inaugural coverage with an overweight rating and a $37 price target, citing favorable aluminum market dynamics.

Analysts highlighted stronger-than-expected aluminum prices driven by insatiable Chinese demand, which they believe will offset softer consumption in Western markets. The bank's sector-wide mining analysis positioned Century Aluminum as a primary beneficiary of current trade policies.

The US-based producer gains additional advantage from Trump-era tariffs, including June's aluminum import levy hike to 50%. Market observers note these protections could sustain profitability even if geopolitical winds shift.