铝：偏强运行，氧化铝：区间震荡，铸造铝合金：跟随电解铝

Report Industry Investment Rating - Aluminum: Bullish operation [1] - Alumina: Range-bound oscillation [1] - Cast aluminum alloy: Follow electrolytic aluminum [1] Core Viewpoints - The report updates the fundamental data of aluminum, alumina, and cast aluminum alloy, including futures and spot market prices, trading volumes, positions, spreads, and inventory levels [1] - It also mentions external events such as the 175 - billion - dollar tax - refund battle in the US and the potential impact of the blockade of the Strait of Hormuz on the global energy market [2] Summary by Related Catalogs Futures Market - Aluminum: The closing price of the Shanghai aluminum main contract is 24,465, up 630 from T - 1. The trading volume is 483,091, and the position is 277,833. LME aluminum 3M closing price is 3,185. The LME注销仓单占比 is 9.21% [1] - Alumina: The closing price of the Shanghai alumina main contract is 2,773, up 29 from T - 1. The trading volume is 365,789, and the position is 344,019 [1] - Aluminum alloy: The closing price of the aluminum alloy main contract is 23,180, up 450 from T - 1. The trading volume is 14,947, and the position is 6,875 [1] Spot Market - Electrolytic aluminum: The domestic aluminum ingot social inventory is 124.60 million tons, up 7.10 million tons from T - 1. The electrolytic aluminum enterprise profit and loss is 7,415.24 [1] - Alumina: The domestic average alumina price is 2,663. The alumina Lianyungang CIF price is 330 US dollars/ton [1] - Aluminum alloy: The ADC12 theoretical profit is 709. The three - place inventory total is 39,336 [1] External Events - The US Federal Appellate Court rejected the Trump administration's request for a tariff - refund extension. The Trump administration faces over 2,000 tariff cases [2] - JPMorgan warns that if the Strait of Hormuz is blocked, the storage limit may lead to a full - scale shutdown of Middle - East crude oil production, and the global energy market is approaching the physical supply - cut - off critical point [2] Trend Intensity - Aluminum trend intensity: 1; Alumina trend intensity: 0; Aluminum alloy trend intensity: 1 [2]