Century Aluminum stock bounced hard off its 50 day moving average which supports the recent Resurrection CrossWhen the 50 day moving average crosses above the 200 day moving average, it is called a Resurrection Cross. Conversely, when the 50 day moving average crosses below the 200 day mov.... The bullish market action comes in the wake of Biden’s proposed 200% import tariffs against Russian aluminum.
Century Aluminum supports Biden administration tariffs on Russian aluminum
On February 24, 2023, Century Aluminum Company released the following statement in support of the Biden administration’s decision to implement a 200% tariff on Russian aluminum imports into the United States.
President and CEO Jesse Gary said, “Century Aluminum fully supports the Biden administration’s decision to impose significant tariffs on the import of Russian aluminum and Russian aluminum embedded in downstream articles. For too long, Russian aluminum producers have flooded the market with excess production, undercutting U.S. competitors without consequence. A thriving domestic aluminum market is essential to today’s U.S. national security, economic, and climate objectives. These tariffs make our country safer, more economically independent, and more sustainable, and will strengthen our domestic supply chain, make the U.S. less reliant on those who wish us harm, and put our country on a steadier path to a green future.”