Press Metal earnings set to rise

Kenanga Research has raised its long-term aluminium price assumption to US$2,300 (RM10,003) per tonne from US$2,150 (RM9,351).

PETALING JAYA: The rise in aluminium prices with the reopening of China, which is the largest global aluminium consumer, translates into stronger margins for aluminium producers, including Press Metal Aluminium Bhd.

Year-to-date aluminium prices have risen 6% to above US$2,500 (RM10,873) per tonne currently.