Aluminium is Rio Tinto's albatross. As self-inflicted curses go, the miner's $38.1bn Alcan acquisition two years ago is hard to beat. It saddled Rio with huge debts, and dragged it into a $15.2bn rescue rights issue. Although it accounts for 60 per cent of Rio's assets, it is the biggest drag on its first half earnings, which more than halved to $2.6bn. The distraction may continue for a while: the near-term demand outlook for aluminium is still subdued.
鋁是力拓(Rio Tinto)的一個劫數。兩年前，力拓以381億美元收購加鋁(Alcan)，從此惹禍上身，難以收拾。力拓爲此背上了沉重的債務，不得不通過增發新股，融資152億美元。鋁業務雖佔力拓資產的60%，卻是拖累其上半年盈利（下降逾一半，僅爲26億美元）的最大因素。這種煩人的狀況可能還將持續一段時間：因爲鋁的短期需求前景低迷依舊。
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