Company: CENX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038882
Chunk: 47

Company: CENTURY ALUMINUM CO
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 various counterparties to offset fixed price sales arrangements with certain of our customers ("fixed for floating swaps") to remain exposed to the LME and MWP aluminum prices. As of June 30, 2025, we had 885 tonnes open fixed for floating swaps. These contracts are expected to settle monthly through November 2025. We have entered into financial contracts to hedge a portion of our Jamalco fuel cost exposure ("HFO price swaps"). The volume of heavy fuel oil ("HFO") consumed at Jamalco is measured per barrel and as of June 30, 2025, we had an open position of 270,000 barrels. The HFO price swaps are expected to settle monthly through May 2026.We have entered into financial contracts to fix a portion of our exposure to the Indiana Hub power market at our Sebree plant ("Indiana Hub power price swaps"). As of June 30, 2025, we had an open position of 690,648 MWh. The Indiana Hub power price swaps are expected to settle monthly through September 2026.Our agreements with derivative counterparties contain certain provisions requiring collateral to be posted in the event the market value of our position exceeds the margin threshold limit of our master agreement with the counterparty. As of June 30, 2025 and December 31, 2024, the Company had no recorded restricted cash as collateral related to open derivative contracts under the master arrangements with our counterparties.

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Table of ContentsCENTURY ALUMINUM COMPANYCondensed Notes to the Consolidated Financial Statements (continued)(amounts in millions, except share and per share amounts)(Unaudited)

The following tables set forth the Company's derivative assets and liabilities that were accounted for at fair value and not designated as cash flow hedges as of June 30, 2025 and December 31, 2024, respectively:Asset Fair ValueJune 30, 2025December 31, 2024Commodity contracts(1)$4.6 $4.5 Liability Fair ValueJune 30, 2025December 31, 2024Commodity contracts(1)$19.8 $4.4 (1)Commodity contracts reflect our outstanding LME and MWP forward financial sales contracts, Indy Hub power price swaps, fixed for floating swaps, and HFO price swaps. At June 30, 2025, and December 31, 2024, there were no commodity contracts with Glencore.The following