PETALING JAYA: Press Metal
Aluminium Holdings Bhd will likely post double-digit profit growth for the financial year ending Dec 31, 2024, thanks to strong aluminium prices.
Despite the property slump in China and muted demand in Europe posing downside risks, global aluminium prices are expected to remain robust due to supply risk amid resilient demand from the electric vehicle (EV) and renewable energy sectors and destocking activities reaching their tail-end as aluminium inventory stands at a low level, according to Hong Leong Investment Bank Research (HLIB Research).
In addition, uncertainty over electricity supply in Yunnan, China, is expected to slow capacity growth in China’s aluminium production, the research house said.
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