Century Aluminum’s restart of Line 2 at its Grundartangi smelter lifted Icelandic shipments to 75,300 tonnes in the third quarter of 2026, from 35,575 tonnes in the second quarter. The US-headquartered aluminium producer reported the results on November 5, 2026, saying the restart brought the facility back to near-full production during the quarter.
Group aluminium shipments rose to 173,483 tonnes from 130,632 tonnes in the preceding quarter. Century Aluminum also reported third-quarter revenue of approximately €829 million and adjusted earnings before interest, tax, depreciation and amortisation of approximately €286 million, based on its reported dollar figures and an indicative currency conversion.
Output, costs and power
Higher output and favourable realised metal prices supported the quarterly results, while higher operating costs and less favourable electricity-price realisations also affected performance. Equipment failures at the Icelandic plant continued to affect exceptional items.
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. Power costs and asset reliability therefore remain central commercial risks for the smelter.
European supply and operational test
The increased shipments improve short-term availability of Iceland-produced primary aluminium for customers, including European industrial buyers. Grundartangi’s recovery supports European aluminium supply, while the company’s group results do not represent the profitability of the Icelandic smelter alone.
Century Aluminum also operates US smelting assets and has other business interests. The next operational test is whether Grundartangi can maintain near-full production without further equipment disruption and convert restored output into stable cash generation.
