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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivatives not designated as hedging instruments
The following table sets forth the Company's derivative assets and liabilities that were accounted for at fair value and not designated as cash flow hedges as of December 31, 2024 and 2023, respectively:
Asset Fair Value
20242023
Commodity contracts (1)
$4.5 $2.9 
Foreign exchange contracts (2)
— — 
Total$4.5 $2.9 
 Liability Fair Value
20242023
Commodity contracts (1)
4.4 7.8 
Foreign exchange contracts (2)
— 0.1 
Total$4.4 $7.9 
(1)Commodity contracts reflect our outstanding LME and MWP forward financial sales contracts, fixed for floating swaps, HFO price swaps and Indiana Hub power price swaps. At December 31, 2024, $0.0 million of Due to affiliates was related to commodity contract liabilities 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 casthouse currency hedges.
Schedule of derivative instruments
The following table summarizes the net gain (loss) on forward and derivative contracts for the years ended December 31, 2024, 2023, and 2022:
Year Ended December 31,
202420232022
Commodity contracts (1)
$2.1 $63.5 $206.6 
Foreign exchange contracts(0.1)(1.7)(9.4)
   Total$2.0 $61.8 $197.2 
(1)For the years ended December 31, 2024, 2023, and 2022, $(0.5) million, $0.6 million, and $(13.3) million of net gain (loss), respectively, was with Glencore.