0132 GMT - Press Metal Aluminium is poised to benefit from rising aluminum prices, Maybank Investment Banking analysts Loh Yan Jin and Jeremie Yap say in a note. Aluminum prices hit a one-year high earlier this month. The analysts say aluminum prices may remain supported by tight supply, with global production growth projected at 1%-1.5% in 2025, given sanctions on Russia and China's output cap. While near-term demand for aluminum products in the U.S. and Europe could remain soft, China's stimulus measures and longer-term needs for clean energy products may provide strong support, they add. These tailwinds, though, could be partially offset by a weaker dollar against ringgit. Maybank maintains a buy rating on Press Metal and keeps its target price at MYR6.34. Shares are 0.2% higher at MYR5.89. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
September 28, 2025 21:32 ET (01:32 GMT)
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