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Message

re: U.S. aluminum/steel shutting down

Posted on 8/11/22 at 9:02 am to
Posted by lsusteve1
Member since Dec 2004
47774 posts
Posted on 8/11/22 at 9:02 am to
Noranda fixing to be busy as hell.



Facility needs a lot of maintenance done too.
Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
138890 posts
Posted on 8/11/22 at 9:05 am to
quote:

Noranda fixing to be busy as hell.



Facility needs a lot of maintenance done too.

It's Atlantic now.
Posted by Cracker
in a box
Member since Nov 2009
19262 posts
Posted on 8/11/22 at 9:07 am to
Interesting
Century Aluminum (NASDAQ:CENX – Get Rating) was the target of unusually large options trading on Wednesday. Stock traders acquired 3,804 call options on the company. This represents an increase of 103% compared to the typical volume of 1,875 call options.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC acquired a new stake in shares of Century Aluminum in the first quarter valued at approximately $30,000. Mutual of America Capital Management LLC grew its holdings in shares of Century Aluminum by 18.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 8,581 shares of the industrial products company’s stock valued at $63,000 after buying an additional 1,309 shares during the period. Prospera Financial Services Inc bought a new stake in Century Aluminum in the 1st quarter valued at $104,000. Aigen Investment Management LP lifted its position in Century Aluminum by 84.3% in the 2nd quarter. Aigen Investment Management LP now owns 14,175 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 6,483 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in Century Aluminum in the 2nd quarter valued at $122,000. Institutional investors own 56.11% of the company’s stock.
LINK
Posted by AllDayEveryDay
The Sticks
Member since Jun 2015
9723 posts
Posted on 8/11/22 at 9:09 am to
Exactly. Which is why, you know, ya frickin plan for increases in price, based on market conditions, which have been the same for 12+ months. Like an actual company should.
Posted by Korkstand
Member since Nov 2003
29105 posts
Posted on 8/11/22 at 9:10 am to
quote:

If we would stop exporting natural gas it could help with our energy costs.

Just saying.

Wouldn't that require extremely heavy-handed regulatory overreach?
Posted by TheFlyingTiger
Member since Oct 2009
4144 posts
Posted on 8/11/22 at 9:17 am to
quote:

Exactly. Which is why, you know, ya frickin plan for increases in price, based on market conditions, which have been the same for 12+ months. Like an actual company should.


These are the hottest takes.

Smh f'n Reddit economists
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37536 posts
Posted on 8/11/22 at 9:17 am to
quote:

Exactly. Which is why, you know, ya frickin plan for increases in price, based on market conditions, which have been the same for 12+ months. Like an actual company should.


Could you please inform us on your profession and relevant experience running a business?
Posted by Korkstand
Member since Nov 2003
29105 posts
Posted on 8/11/22 at 9:19 am to
quote:

Exactly. Which is why, you know, ya frickin plan for increases in price, based on market conditions, which have been the same for 12+ months. Like an actual company should.
Well it seems like the frickin plan is generally to halt production when expenses are too high.
Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
138890 posts
Posted on 8/11/22 at 9:20 am to
quote:

Exactly. Which is why, you know, ya frickin plan for increases in price, based on market conditions, which have been the same for 12+ months. Like an actual company should.

Ok, tell us how they're supposed to account for a 300% increase in energy cost over the course of a few months in an industry that already has extremely thin margins in good times.
Posted by Korkstand
Member since Nov 2003
29105 posts
Posted on 8/11/22 at 9:28 am to
quote:

Ok, tell us how they're supposed to account for a 300% increase in energy cost over the course of a few months in an industry that already has extremely thin margins in good times.
I know you hate renewables but they are the only way to bring energy production in-house and control costs.

I'm not saying the ROI is there already for all or even any industry, but I'm pretty confident that technology will continue to march on.

Whether it's a home, a business, or a nation, renewables are the only way to insulate your operations from the swings of the global energy markets.
Posted by Cdawg
TigerFred's Living Room
Member since Sep 2003
61982 posts
Posted on 8/11/22 at 9:28 am to
quote:

If we would stop exporting natural gas it could help with our energy costs.

Just saying.

Well we've asked the Euros to stop purchasing Russian gas, so there's that.
Posted by Michael T. Tiger
Baton Rouge
Member since Jul 2004
8881 posts
Posted on 8/11/22 at 9:29 am to
Build back better!
Posted by TheFlyingTiger
Member since Oct 2009
4144 posts
Posted on 8/11/22 at 9:29 am to
quote:

Ok, tell us how they're supposed to account for a 300% increase in energy cost over the course of a few months in an industry that already has extremely thin margins in good times.



Well next time they ought to take a percentage of that increase and spend it on crushing the political actors that caused this. That's a good start
Posted by TheFlyingTiger
Member since Oct 2009
4144 posts
Posted on 8/11/22 at 9:30 am to
quote:

Whether it's a home, a business, or a nation, renewables are the only way to insulate your operations from the swings of the global energy markets.


Only because those markets are completely fricked by subsidies. Renewables don't stand a chance in a real market.
Posted by jnethe1
Pearland
Member since Dec 2012
17781 posts
Posted on 8/11/22 at 9:32 am to
This along with the other manufacturing facilities and food processing facilities going down is nothing more than a coincidence. Stop being conspiracy theorists.
Posted by LSU fan 246
Member since Oct 2005
90567 posts
Posted on 8/11/22 at 9:32 am to
quote:

I'm not saying the ROI is there already for all or even any industry, but I'm pretty confident that technology will continue to march on.


So govt subsidize everything. Nice
Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
138890 posts
Posted on 8/11/22 at 9:34 am to
quote:

I know you hate renewables but they are the only way to bring energy production in-house and control costs.

I'm not saying the ROI is there already for all or even any industry, but I'm pretty confident that technology will continue to march on.

Whether it's a home, a business, or a nation, renewables are the only way to insulate your operations from the swings of the global energy markets.

I'm not against renewables. They're just not a viable option simply for the fact that they don't produce consistent output. Also, the fact that we will rely almost completely on Chinese made solar and battery tech makes the whole point moot from a strategic point.

Posted by Korkstand
Member since Nov 2003
29105 posts
Posted on 8/11/22 at 9:35 am to
quote:

Only because those markets are completely fricked by subsidies. Renewables don't stand a chance in a real market.
The O&G markets are completely fricked by foreign actors on a regular basis. O&G has also received its fair share of subsidies.

The only way to stabilize energy prices is to drive fuel input costs to zero. That's what renewables do and that's what O&G can never do.
Posted by Korkstand
Member since Nov 2003
29105 posts
Posted on 8/11/22 at 9:37 am to
quote:

So govt subsidize everything. Nice
That's not what I said or even suggested.
Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
138890 posts
Posted on 8/11/22 at 9:39 am to
quote:

The O&G markets are completely fricked by foreign actors on a regular basis. O&G has also received its fair share of subsidies.

O&G doesn't get anywhere near the subsidies of green energy. They're not even in the same ballpark.

Also, at least if the domestic O&G market is left alone by the govt, they can make the decision to increase or curtail production to do something fight foreign market manipulation.
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