Press Metal sees indirect benefits from US-China trade spat

June 19, 2018 | By | Reply More

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PETALING JAYA: The trade tensions between China and the US could indirectly benefit aluminium smelter Press Metal Aluminium Holdings Bhd as it will reduce market competition in the region.

Speaking to reporters at its AGM today, group CEO Tan Sri Paul Koon said metal from Australia may move to the US as Australia has been exempted from US tariffs on aluminium and steel, which could be good news for Press Metal.

Last month, it was announced that Australia and Argentina would be excluded from 25% steel and 10% aluminium tariffs.

Commenting on the aluminium price, he believes it is currently at the “right level” and is expected to remain at US$2,200 to US$2,300 per tonne till year end.

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