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Press Metal shares fell more than 6% as aluminium prices dropped to a three-month low, driven by easing Middle East tensions and the reopening of the Strait of Hormuz. The move signals a broader shift in the commodity cycle as supply risks unwind. The aluminium story is shifting from supply disruption to normalisation and that changes everything. What’s Happening Aluminium prices falling Down to ~US$3,122/tonne (3-month low) Supply concerns easing as shipping routes reopen Press Metal hit hard Share price dropped ~6–7% Highly sensitive to aluminium price movements Previously benefited from war-driven rally Strong earnings supported by higher prices Stock still up ~10% since Iran conflict began What’s Really Changing This is not just a price drop, it’s a  cycle transition : Before →  Geopolitical supply shock  (prices pushed higher) Now →  Supply normalisation  (prices easing) As Hormuz reopens, the market is moving away from scarcity pricing. Key Takeaway The ke...

Market at a Glance U.S. stocks closed mixed , with tech under pressure while financials advanced. Bursa Malaysia fell for a third straight session. Malaysia’s PPI dropped 2.9% YoY , dragged by mining weakness. Maybank posted stronger earnings and declared a 33 sen dividend. Wall Street Recap Dow Jones Industrial Average  rose 0.03% to 49,499.20 S&P 500 Index  fell 0.54% to 6,908.86 Nasdaq Composite  slid 1.18% to 22,878.38 Technology and communication services led losses, while financials gained 1.3%. Major banks including  JPMorgan Chase ,  Bank of America  and  Wells Fargo  supported the sector’s rise. Despite recent AI-related concerns, the software & services segment rebounded, with  Salesforce  jumping 4%. Key Point: U.S. financial stocks outperformed as tech names faced renewed pressure. Bursa Malaysia Snapshot FTSE Bursa Malaysia KLCI  closed at 1,740.94 (-0.39%) Top Gainer:   Sunway Berhad  (+1.88%) Top Los...

 Aluminium Prices Hit One-Year High Maybank Investment Bank (Maybank IB) remains positive on  Press Metal Aluminium Holdings Bhd (PMETAL)  as aluminium prices climb to their highest in a year amid tight global supply. Prices on the London Metal Exchange (LME) rose to  US$2,737 per tonne in September , already exceeding Maybank’s year-end forecast of  US$2,550 per tonne . The research house highlighted that inventories remain near multi-decade lows, while sanctions on Russia and China’s 45 million tonne production cap continue to squeeze supply. High energy costs have also led to smelter shutdowns in some regions, adding to the deficit risk. U.S. Dollar Weakness a Key Earnings Headwind While a weaker greenback could support aluminium demand globally, Maybank IB cautioned that it poses a downside risk for Press Metal’s earnings. This is because the company  earns revenue in U.S. dollars but reports in ringgit . Maybank estimates that a  5% depreciation o...

  Press Metal Aluminium Holdings Bhd 's third-quarter earnings may soften, impacted by the stronger ringgit , according to a report from RHB Investment Bank (RHB IB) . Every 1% change in the ringgit against the US dollar could affect the company's bottom line by 1.8%-2.0% , due to the impact on its export receipts . Other factors contributing to the softer earnings outlook include weaker aluminium prices , higher alumina costs , and a fire at the Samalaju factory . However, RHB IB noted that the long-term fundamentals for aluminium prices remain solid, which could mitigate the impact. Since July 1, Press Metal's shares have declined 14% , partly due to rising expectations of a US Federal Reserve rate cut and the appreciation of the ringgit by 12% against the US dollar. Despite the recent decline, Press Metal’s year-to-date gains stand at 3%. RHB IB expects alumina costs to remain elevated, with prices reaching US$508.50 per tonne in the third quarter, though they may...