Press Metal sees lower raw material costs

According to group chief executive officer Tan Sri Paul Koon Poh Keong (pic), the prices of key raw materials, such as alumina and carbon anode, have dropped following the trend of weakening London Metal Exchange (LME) aluminium prices due to the impacts of the Covid-19 pandemic on world businesses.

KUCHING: Press Metal Aluminium Holdings Bhd expects the average cost of raw materials for its smelting plants in Sarawak to drop this year, in line with weaker aluminium prices.

According to group chief executive officer Tan Sri Paul Koon Poh Keong, the prices of key raw materials, such as alumina and carbon anode, have dropped following the trend of weakening London Metal Exchange (LME) aluminium prices due to the impacts of the Covid-19 pandemic on world businesses.