Press Metal faces near-term headwinds
Longer-term prospects remain intact
Press Metal Aluminium Holdings Bhd, which was one of last year’s top performing stocks on Bursa Malaysia, isn’t having a great start to 2019.
Since the beginning of the year, shares in Press Metal, South-East Asia’s largest aluminium smelter, have been under pressure.
This is due to expectations of lower aluminium prices, the end produce of Press Metal’s smelter. Also adding pressure is a rise in raw material prices, which in turn could hit the smelter’s margins.
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