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Alumina Notes on Alcoa Corp Third Quarter 2021 Earnings Release

15 Oct 2021  |  10:03:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Alcoa Corp Third Quarter 2021 Earnings Release

Alumina noted Alcoa Corp's quarterly earnings release. As previously announced net distributions received during 1H 2021 included $30m - $35m of benefit from the AofA tax shield. The average one-month lagged API price for the fourth quarter to date is $410/t which would drive AWAC's cash margin higher than the $55/t achieved in the third quarter. The benefits of this increase will be reflected in AWAC's fourth quarter results and the AWAC distributions to Company in the first quarter of 2022.

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