Aluminium takes over copper

Rio Tinto has been struggling for years to recover from the $38 billion purchase that elevated it to the world’s biggest aluminium company but also brought it to the verge of bankruptcy.
Now signs of price improvements for aluminium and related alumina and bauxite, amid slowing supplies out of China, are turning the division’s fortunes around.
In Rio Tinto’s financial results on Thursday, data showed aluminium had surpassed copper as the second biggest contributor to underlying earnings - $1.25 billion against $910 million for copper - in 2014 behind iron ore.
For perspective, in 2013, aluminium contributed $550 million versus $820 million by copper.
“Our aluminium division has grown into a significant contributor to group earnings and cash flow,” Chief Executive Sam Walsh said.
Copper emerged as the metal facing the most bearish future in the latest Reuters poll of base metals analysts.