KUALA LUMPUR: Press Metal Aluminium Holdings Bhd is unperturbed about the potential tariff on aluminium implemented by the United States, despite the overall market concern.
Press Metal said the direct impact to its business is minimal, as it exports a very minimal amount of its primary aluminium products to the US.
“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 one per cent of our total revenue,” it said in a statement today.
Press Metal said the consumption of primary aluminium in the US was almost six million tonnes last year compared to domestic production of close to one million tonnes.
Canada, Russia and the Middle East are the top three exporters to the US, constituting about 80-90 per cent of its imports of primary aluminium.
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