铝：偏强运行，氧化铝：基本面矛盾未解，铸造铝合金：跟随电解铝

1. Report Industry Investment Rating - Aluminum: Bullish trend [1] - Alumina: Fundamental contradictions remain unresolved [1] - Cast aluminum alloy: Follows the trend of electrolytic aluminum [1] 2. Core Viewpoints of the Report - The report updates the fundamental data of aluminum, alumina, and cast aluminum alloy, including prices, trading volumes, open interests, spreads, and inventory levels [1]. - It also provides information on the trend strength of aluminum, alumina, and aluminum alloy, with aluminum and aluminum alloy showing a relatively strong trend, while alumina shows a relatively weak trend [3]. 3. Summary by Relevant Catalogs Futures Market - Aluminum: The closing price of the Shanghai Aluminum main contract was 21,610 yuan, up 110 yuan from the previous trading day. The trading volume was 127,656 lots, down 22,895 lots. The open interest was 260,670 lots, up 3,532 lots [1]. - Alumina: The closing price of the Shanghai Alumina main contract was 2,707 yuan, down 17 yuan from the previous trading day. The trading volume was 186,853 lots, down 31,965 lots. The open interest was 360,240 lots, up 2,034 lots [1]. - Aluminum alloy: The closing price of the aluminum alloy main contract was 20,800 yuan, up 120 yuan from the previous trading day. The trading volume was 3,663 lots, down 1,081 lots. The open interest was 4,500 lots, down 1,016 lots [1]. Spot Market - Aluminum: The domestic aluminum ingot social inventory was 590,000 tons, unchanged from the previous trading day. The LME aluminum ingot inventory was 539,100 tons, down 2,000 tons [1]. - Alumina: The average domestic alumina price was 2,856 yuan/ton, unchanged from the previous trading day. The CIF price of alumina in Lianyungang was 338 US dollars/ton, down 7 US dollars/ton [1]. - Aluminum alloy: The theoretical profit of ADC12 was -174 yuan/ton, up 37 yuan/ton from the previous trading day. The total inventory of three locations was 49,785 tons, down 139 tons [1]. Other Information - China's official manufacturing PMI in November rebounded to 49.2, while the non - manufacturing PMI declined slightly. The high - tech manufacturing PMI remained above the critical point for 10 consecutive months [3]. - The Chicago Mercantile Exchange (CME) experienced a major technical outage, causing all derivative market trading to pause [3].