LB Aluminium 维持正面看法。公司目前 PE 与 PB 仍处低位，估值具吸引力。以最新数据看，公司市值约 RM221.8 million，而每股 NTA 达 RM1.05，对应 PB 仅约 0.49 倍，反映净有形资产规模几乎相当于当前市值的两倍，资产折价明显。加上公司现金与财务状况稳健，并持续录得数千万令吉盈利，在铝材及房产业务需求长期仍在支撑下，当前估值水平具备一定重估潜力。

RHB Research highlighted that these developments have led to a 283% increase in stock withdrawal over two weeks, totalling 171,025 tonnes. Notably, Mercuria is reported to be withdrawing approximately 100,000 tonnes from Port Klang.

“Assuming the Strait of Hormuz-related disruptions maintain, price pullbacks are likely to be shallow, with tight spot availability keeping prices elevated,” RHB Research added, noting that spot prices have already risen in two weeks.

Given the integrated pricing structure of the industry, increases in primary aluminium and billet prices are typically transmitted downstream. As a result, manufacturers of semi-finished and finished aluminium products are likely to adjust their selling prices upwards accordingly, thereby generating greater profit.