Press Metal to gain from higher aluminium price

“Aluminium price is currently above US$2,100 per tonne – a new high since August 2018 which we believe has yet to peak with the tight supply trailing high demand on the reopening of economies. With new 42% capacity from Samalaju phase three, FY21 will be a record year, ” it said.(File pic shows Press Metal's Samuljadi plant.)

PETALING JAYA: Press Metal Aluminium Holdings Bhd, which has a good run in its share price over the last six-month, is expected to see higher earnings growth this year driven by new capacity and higher aluminium price.

Kenanga Research, in a report, said this year would be a “record year” for Press Metal with “explosive” earnings growth of 154% and 24% year-on-year for FY21 and FY22, respectively.