PETALING JAYA: The recent sell-off in the shares of Press Metal
Aluminium Holdings Bhd offers an attractive opportunity for investors to accumulate, as the group’s fundamentals remain largely intact, says RHB Research.
The research house attributes the 9% decline in Press Metal’s shares in a single day to aluminium prices falling below US$3,000 per tonne, carbon anode costs reaching multi-year highs and the higher US consumer price index inflation, which increased the risk of an October US Federal Reserve rate hike and potentially a stronger US dollar in the near term.
