According to Affin Hwang Investment Bank Research (Affin Hwang Research), Press Metal hedged 40% of its alumina supply this year at 14% to 15% of spot aluminium prices. Affin Hwang Research noted that the strategy had previously helped Press Metal safeguard its margins during periods of high alumina prices, such as in the second half of 2024 (2H24). Press Metal’s quarter-on-quarter (q-o-q) improvement is premised on aluminium prices increasing 8% q-o-q and alumina prices falling 11% q-o-q. The research house raised its forecast earnings per share for Press Metal by between 7% and 14%, despite the ringgit strengthening. It has maintained a “buy” call for Press Metal but raised its target price to RM7.90.

Source: The Star January 19, 2026 11:50 UTC