The AWAC ( Alcoa/AWC business ) is mainly an alumina refining business. It is relatively small in the actual aluminium smelting business.
The key to AWAC and AWC's future profitability lies more in the supply and demand balance for alumina, and their ability to control supply and marginal costing as the largest supplier in the market. Not so much on the energy and carbon issues which influence the aluminium metal production business.
