“I don’t like aluminium.”
That may seem an unlikely statement from the world’s sixth-largest producer of the metal. But Marius Kloppers, chief executive of BHP Billiton, is putting his money where his mouth is. BHP will from now on run its aluminium division for cash, he announced in February.
Mr Kloppers can afford to dislike aluminium; the majority of his profits come from iron ore, oil and coal. But for the rest of the industry, his comments have sparked a debate: after a decade of sub-par profitability, is it still worth investing in aluminium?
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