Century Aluminum more than doubled shipments from its Icelandic operations to 75,300 tonnes in the third quarter of 2026 after restarting Line 2 at its Grundartangi smelter, returning the plant to near-full production. The US-headquartered aluminium producer published the results on 5 November.
Icelandic shipments rose from 35,575 tonnes in the second quarter. The increase lifted the volume of primary aluminium available from Iceland in the short term for customers, including European industrial buyers.
Group results and operating costs
Century Aluminum’s group aluminium shipments increased to 173,483 tonnes from 130,632 tonnes in the preceding quarter. Group revenue was approximately €829 million, and adjusted earnings before interest, tax, depreciation and amortisation were approximately €286 million, based on the dollar figures reported by the company and an indicative currency conversion.
Higher output and favourable realised metal prices supported quarterly results. The company also reported higher operating costs and less favourable electricity-price realisations. Equipment failures at the Icelandic plant continued to affect exceptional items.
The group figures do not represent the profitability of Grundartangi alone. Century Aluminum also operates smelting assets in the United States and has other business interests.
Power and reliability at Grundartangi
Grundartangi is an important Atlantic smelting asset with access to Iceland’s electricity system. Primary aluminium production requires large, stable power supplies, and their cost and reliability can substantially affect competitiveness, particularly when global metal prices fluctuate.
The next operational test is whether the smelter can maintain near-full production without further equipment disruption and convert restored output into stable cash generation. The recovery supports European aluminium supply, while power costs and asset reliability remain central commercial risks.
