Source: Financial Times, 31st March 2011

Everything comes to those who wait. Aluminium has lagged behind other commodities in the latest upswing. That has meant a painful wait for some, such as Rio Tinto, which forked out $38bn for aluminium producer Alcan at the peak of the commodities boom in 2007 only to be crippled by its debt funding when the cycle turned. But last year's 30 per cent increase in the aluminium price brought relief: Rio Tinto Alcan's earnings before interest, tax, depreciation and amortisation quadrupled. The same was true for Russian producer Rusal, whose ebitda surged to $2.6bn last year.