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Press Metal Aluminium Holdings Berhad trades around RM 5.43, showing short-term momentum after breaking RM 5.20, with support at RM 5.00 and resistance at RM 5.50 to RM 5.70, while analysts expect further upside to RM 6.20 to RM 6.30 supported by strong fundamentals but limited by valuation risk.
Affin Hwang lifted its target price for Press Metal to RM5.90 from RM5.60 a share, based on an unchanged price-earnings multiple of 24-times applied to 2026 EPS, while maintaining its “buy” call
Higher tariffs raise the cost of imported aluminium, reducing supply from key exporters like China, Germany, or the EU. This could lead to supply shortages in the U.S., pushing aluminium futures prices higher.
