
Since Press Metal Aluminium exports minimal amount of primary aluminium products to the United States, Trump’s proposed tariffs on aluminium and steel imports will have minimal impact on its business. Malaysia’s Press Metal said in an exchange filing on Monday, March 5.

“We understand that the market is concerned after learning about the potential tariff on aluminium which may be implemented by the US. We have been monitoring this development and we feel the current direct impact to our business is minimal.”
“Press Metal exports a very minimal amount of its primary aluminium products to the US. Including extrusion products, our exposure to the US market is less than 1% of our total revenue,” company said.
The company said that primary aluminium consumption in the US was almost six million tonnes in 2017, compared with domestic production of close to one million tonnes.
“Canada, Russia and the Middle East are the top three exporters to the US, constituting some 80 to 90 per cent of the US imports of primary aluminium.”
The company had posted net profit of to 602.79 million for the financial year ended Dec 31, 2017 (FY17), up 24.65 per cent. Revenue increased from RM6.65 billion to RM8.17 billion, representing an increase of 22.9 per cent.
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