“Demand for aluminium expected to grow moving forward driven by ESG”, says Press Metal Chief Executive

The demand for aluminium is anticipated to remain robust in the future aligned with widening efforts to protect the environment by most countries in the world through the application of environmental, social and governance (ESG) initiatives.

Tan Sri Koon Poh Keong, the CEO of Press Metal Aluminum Holdings Bhd Group, Malaysia said: “The implementation of ESG would encourage companies to use recyclable materials as their raw materials, of which aluminium is one of them.”

He further added: “The demand for aluminium was expected to continue moving forward driven by ESG especially from industries such as automotive and packaging.”

"Strong demand will support the price of aluminium. In addition, the constraints on the supply of aluminium going forward will also support the price to remain strong," he said.

The Malaysian-based aluminium company with an extensive global presence, Press Metal’s CEO stated that the worldwide efforts towards carbon-neutral would diminish energy generation using fossil fuel, while it will turn to lead towards the usage of renewable energy such as hydro, solar, etc.

He concluded by saying that aluminium production is highly energy-intensive and energy generated by renewable sources is insufficient for aluminium production. Hence this situation will indirectly restrict the supply of aluminium in the future, thus supporting the price of aluminium to remain strong.