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Quarterly results were impacted by lower London Metal Exchange prices and negative currency impacts. These were partially offset by higher volumes in alumina, flat-rolled products, and engineered products and solutions, as well as the continued benefits from Alcoa’s cash sustainability program.
In the Alumina segment, after-tax operating income (ATOI) in the third quarter was $70 million, a decrease of $24 million compared with second quarter ATOI of $94 million. A 5% decline in realized alumina price, negative currency impacts, and São Luís production recovery efforts were partially offset by higher production, continued productivity benefits, and a favorable tax rate change. Alumina production in the third quarter increased to 4047 thousand metric tons.
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