铝：震荡偏强，氧化铝：继续承压，铸造铝合金：跟随电解铝

Report Industry Investment Ratings - Aluminum: Oscillating with an upward bias [1] - Alumina: Continuing to face pressure [1] - Cast aluminum alloy: Following the trend of electrolytic aluminum [1] Core Viewpoints - The report updates the fundamental data of aluminum, alumina, and cast aluminum alloy, including futures market prices, trading volumes, open interest, and spot market prices, premiums, processing fees, and corporate profitability [1]. - The Fed's Beige Book shows that economic activity has changed little in over a month covering the government shutdown, with tariff pressures squeezing corporate profits and AI suppressing some hiring demand [2]. - US envoy is shuttling between Russia and Ukraine for peace talks, with Trump claiming "great progress" but core issues remain unresolved [2]. Summary by Relevant Catalogs Futures Market - Aluminum: The closing price of the Shanghai Aluminum main contract is 21,455, down 10 from the previous day; the LME Aluminum 3M closing price is 2,801, unchanged [1]. - Alumina: The closing price of the Shanghai Alumina main contract is 2,720, down 7 from the previous day [1]. - Aluminum alloy: The closing price of the aluminum alloy main contract is 20,695, down 10 from the previous day [1]. Spot Market - Aluminum: The electrolytic aluminum enterprise profit and loss is 5,321.90, down 40 from the previous day; the domestic aluminum ingot social inventory is 604,000 tons, unchanged [1]. - Alumina: The domestic average alumina price is 2,856, unchanged; the alumina price at Lianyungang in - yuan is 2,885, unchanged [1]. - Aluminum alloy: The theoretical profit of ADC12 is - 204, down 62 from the previous day; the three - place inventory total is 49,687, down 217 [1]. Other Information - The trend intensity of aluminum is 1, alumina is - 1, and aluminum alloy is 1 [2].