Malaysian aluminum producer Press Metal’s annual capacity at its Samalaju smelter in the state of Sarawak may reach 320,000mt according to a note by RHB Investment Bank. 

 

Improved sales volumes and strong LME prices are expected to drive the group’s H1 profits up by 150pc and Q2 earnings by 30-40pc. 

 

RHB Investment Bank also noted, according to media reports on Aug 10, that capacity ramp-ups and improved average selling prices are likely to continue into the rest of the year. The impact of continued lockdowns in the pandemic has been limited to Press Metal’s downstream operations. 

 

Press Metal is an aluminum smelter and extruder based in Malaysia with local offices and distribution and trading units in the UK, Australia, and North America. The group has a smelting capacity of 760,000mt per year.

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