UOB Kay Hian it said the silver lining that would ease costs for Press Metal (pic of factory) came from the slower alumina prices recovery, which is about US$280.
KUALA LUMPUR: Press Metal
Aluminium Holdings Bhd is expected to post stronger earnings in the next two years as aluminium prices are likely to strengthen on better demand, according to UOB Kay Hian Research.
The research house has raised its earnings forecasts for Press Metal for the financial years ending Dec 31,2020 (FY20) and FY21 by 4% and 16%, respectively, to account for higher spot aluminium and alumina prices, which it expects to be partially offset by weaker US dollar against the ringgit.
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