需求有刚性支撑 铸造铝合金偏强震荡运行

Group 1 - The domestic futures market for non-ferrous metals showed significant gains, with casting aluminum alloy futures rising by 3.95% to 22,480.0 yuan/ton as of the report date [1] - The acceptance of high prices for scrap aluminum by downstream sectors is limited, leading to a cautious sentiment and overall weak transaction volume in the scrap aluminum market [2] - The recycled aluminum industry is facing operational constraints due to ongoing industry policies and cost pressures, impacting production levels [2] Group 2 - Demand for aluminum remains moderate during the traditional automotive consumption peak in December, but the transmission of demand in the end-user sectors, particularly in the automotive parts sector, is weak, resulting in slow inventory digestion [2] - High aluminum prices are suppressing the purchasing willingness of downstream enterprises, leading most companies to maintain only essential stockpiling [2] - Some demand has been preemptively fulfilled before the peak season, which has weakened the incremental orders typically expected during this period [2] Group 3 - Weekly inventory data from the Shanghai Futures Exchange shows an increase of 0.06 to 73,800 tons, while the inventory of aluminum alloy ingots in major domestic markets decreased by 0.08 to 70,200 tons [2] - The inventory at aluminum alloy ingot factories increased by 0.25 to 60,600 tons [2] - Looking ahead, tight supply of scrap aluminum and rising copper prices are increasing alloy production costs, while environmental restrictions on smelting in various regions are limiting production at some recycled aluminum plants [2] Group 4 - Despite the gradual manifestation of off-season effects, there remains fundamental consumption support for aluminum, with supply reductions and rigid demand expected to keep casting aluminum alloys in a strong oscillating trend alongside electrolytic aluminum [2]