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Derivatives (Tables)
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivatives not designated as hedging instruments
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, 2024 and December 31, 2023, respectively:
Asset Fair Value
June 30, 2024December 31, 2023
Commodity contracts(1)
$5.5 $2.9 
Liability Fair Value
June 30, 2024December 31, 2023
Commodity contracts(1)
$6.7 $7.8 
Foreign exchange contracts(2)
— 0.1 
Total$6.7 $7.9 
(1)Commodity contracts reflect our outstanding LME and MWP forward financial sales contracts, Indy Hub power price swaps, fixed for floating swaps, NYMEX Henry Hub natural gas price swaps, and HFO price swaps. At June 30, 2024, $4.0 million of Due to affiliates was related to commodity contracts with Glencore. At December 31, 2023, $6.4 million of Due to affiliates was related to commodity contract liabilities with Glencore.
(2)Foreign exchange contracts reflect our outstanding FX swaps and the casthouse currency hedges.
Schedule of derivative instruments
The following table summarizes the net (loss) gain on forward and derivative contracts:
Three months ended
June 30,		Six months ended
June 30,
2024202320242023
Commodity contracts(1)
$(4.0)$9.1 $3.5 $(50.1)
Foreign exchange contracts— 0.0 (0.1)1.6 
   Total$(4.0)$9.1 $3.4 $(48.5)
(1)For the three months ended June 30, 2024, $1.9 million of the net loss was with Glencore, and for the three months ended June 30, 2023, $11.4 million of the net gain was with Glencore. Comparatively, for the six months ended June 30, 2024
$2.5 million of the net gain was with Glencore, and for the six months ended June 30, 2023 $3.5 million of the net loss was with Glencore.