铝：高位震荡，氧化铝：过剩格局未改，铸造铝合金：跟随电解铝

Report Summary 1. Report's Investment Rating for the Industry - Aluminum: High-level oscillation [1] - Alumina: Excess pattern remains unchanged [1] - Cast aluminum alloy: Follow electrolytic aluminum [1] 2. Core View of the Report - The report updates the fundamental data of aluminum, alumina, and cast aluminum alloy in both the futures and spot markets, including prices, trading volumes, positions, spreads, inventories, and corporate profits [1]. 3. Summary by Relevant Catalogs Futures Market - Electrolytic Aluminum: The closing price of the SHFE aluminum main contract was 23,660 yuan, up 145 yuan from T - 1; the trading volume was 146,496 lots, a decrease of 42,086 lots from T - 1; the LME aluminum 3M closing price was 3,117 US dollars, up 12 US dollars from T - 1 [1]. - Alumina: The closing price of the SHFE alumina main contract was 2,842 yuan, up 7 yuan from T - 1; the trading volume was 438,077 lots, an increase of 74,829 lots from T - 1 [1]. - Aluminum Alloy: The closing price of the aluminum alloy main contract was 22,205 yuan, up 85 yuan from T - 1; the trading volume was 5,554 lots, a decrease of 412 lots from T - 1 [1]. Spot Market - Electrolytic Aluminum: The domestic social inventory of aluminum ingots was 875,000 tons, unchanged from T - 1; the SHFE aluminum ingot warehouse receipts were 167,600 tons, an increase of 1,100 tons from T - 1; the LME aluminum ingot inventory was 485,800 tons, a decrease of 1,200 tons from T - 1 [1]. - Alumina: The average domestic alumina price was 2,646 yuan, unchanged from T - 1; the CIF price of alumina in Lianyungang was 330 US dollars/ton, unchanged from T - 1 [1]. - Aluminum Bauxite: The price of Australian imported bauxite (Al: 48 - 50%, Si: 8 - 10%) was 48 US dollars/ton, unchanged from T - 1; the price of Guinean imported bauxite (Al: 43 - 45%, Si: 2 - 3%) was 61 US dollars/ton, unchanged from T - 1 [1]. - Aluminum Alloy: The theoretical profit of ADC12 was 522 yuan, a decrease of 174 yuan from T - 1; the three - place inventory totaled 40,693 tons, a decrease of 195 tons from T - 1 [1]. - Caustic Soda: The price of Shaanxi ion - membrane liquid caustic soda (32% converted to 100%) was 2,275 yuan, unchanged from T - 1 [1].