At least one U.S. aluminum producer may be hunkering down for a trade dispute with top-producer China, as the beleaguered aluminum industry fights for survival amid high labor and energy costs and prices at a six-year low.

Century Aluminum Co, controlled by Swiss trader and miner Glencore Plc, is leading an aggressive campaign to fight China’s aluminum exports that it says threatens the U.S. industry.

Century faces high stakes as last week its share price plunged as much as 26 percent after the company reported a bigger-than-expected loss. It has also announced plans to close capacity and shutter one plant…