Affin Hwang Sees Press Metal Profit Falling, Cuts Rating to Hold
Market Talk reports that Affin Hwang IB expects Press Metal Aluminium's third-quarter earnings to drop to 500-600 million ringgit and downgrades the stock to hold.
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what happened
Analyst Andrew Lim at Affin Hwang IB expects Press Metal Aluminium to post weaker third-quarter earnings than in the prior quarter, according to Market Talk. He forecasts a range of 500 million to 600 million ringgit, down from 718 million ringgit in the second quarter.
Lower aluminium prices and higher raw material costs, especially for carbon anodes, are expected to squeeze margins. Lim has cut his 2027-2028 earnings forecasts by 10% to 11% and lowered his rating to hold from buy, with a target price of 7.70 ringgit, down from 9.40 ringgit.
At the time of reporting, the shares were down 1.0% at 7.10 ringgit.
why it matters
Aluminium prices may still find support from tight global supply, although analysts expect the upward momentum to moderate. For sector investors, the note shows how input costs and metal price trends can meaningfully compress the margins of aluminium producers.
tags
instruments
sources
- Press Metal Aluminium's 3Q Earnings Likely Weaker on Quarter — Market Talk, 16 October 2026 at 01:22 UTC
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