铝：震荡下行，氧化铝：回归基本面铸造，铝合金：跟随电解铝

1. Report Industry Investment Ratings - Aluminium: Volatile downward trend [1] - Alumina: Return to fundamentals [1] - Cast aluminium alloy: Follow the trend of electrolytic aluminium [1] 2. Core Views - The report provides updated fundamental data for aluminium, alumina, and cast aluminium alloy, including prices, trading volumes, positions, spreads, and inventory levels [1]. - Trump announced that the US - Mexico tariff agreement will be extended by 90 days, during which Mexico will pay various tariffs, and the two sides will negotiate to reach a trade agreement [3]. 3. Summary by Related Catalogs 3.1 Futures Market - Aluminium: The closing price of the Shanghai Aluminium main contract was 20,510, down 115 from the previous day. The trading volume was 145,300, and the position was 248,613. The LME Aluminium 3M closing price was 2,563, down 46. The LME注销仓单占比 was 3.04%, down 0.06% [1]. - Alumina: The closing price of the Shanghai Alumina main contract was 3,222, up 319. The trading volume was 381,169, and the position was 135,096 [1]. - Aluminium alloy: The closing price of the aluminium alloy main contract was 19,950, down 120 [1]. 3.2 Spot Market - Aluminium: The domestic aluminium ingot social inventory was 525,000 tons, up 11,000 tons. The electrolytic aluminium enterprise profit was 3,830.26, down 90.00 [1]. - Alumina: The domestic average alumina price was 3,274, up 3. The alumina price at Lianyungang's CIF was 403 US dollars/ton, up 1 [1]. - Aluminium alloy: The ADC12 theoretical profit was - 249, up 72. The three - place inventory totaled 31,227 [1]. 3.3 Other Information - The trend intensity of aluminium is 0, alumina is - 1, and aluminium alloy is 0 [3].