Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Malaysia-based Press Metal, one of the country’s leading aluminium extruders, reported record earnings in the March quarter (Q1) supported by robust aluminium demand and prices.


Press Metal declared in a statement to exchanges. Net profit in Q1 was reported at RM258bn ($62bn), up 98pc from the prior-year quarter. The company reported a revenue of RM2.10bn in Q1, up 15pc from the preceding year mainly on the back of a jump in aluminium global prices during the quarter.


The company is looking forward to the commissioning of Phase 3 smelter early in the September quarter. The price of aluminium has strengthened to almost $2,400/mt, said the company, since their plans of Phase 3 expansion. PT Bintan Alumina Indonesia has commenced Phase 1 refinery with a capacity of 1mn mt per annum and its first shipment is expected by July this year.


Recovery in global economies would push demand for aluminium higher and consequently its prices. Aluminium is the preferred metal across various industries including electric vehicles, solar energy infrastructure, transmission lines and railway transportation. On the negative side, the pandemic continues to affect businesses turning them more vigilant about costs and capital expenditures while returning to full production capacities.

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