"We will continue to monitor market conditions and will take further action if warranted." In January of this year, Alcoa announced the closure or curtailment of 531,000 metric tons of smelting capacity. Of that, 291,000 represented the permanent closure of capacity in Tennessee and Texas that had been idled since 2009. Another 240,000 metric tons, or 5 percent of Alcoa's smelting capacity, represented curtailments to be taken in Portovesme, Italy and La Coruña and Aviles, Spain. Alcoa has reached agreement with government authorities and unions in both Italy and Spain on the curtailments. The 90,000 metric ton curtailment in the Spanish smelters has started and is scheduled to be complete by the first half of this year. The smelter in Portovesme, Italy, with a capacity of 150,000 metric tons, will finalize curtailment by the end of the year.