【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com 本文由 AI 算法生成，仅作参考，不涉投资建议，使用风险自担 【8月铝市场库存、装运、比值等数据公布，机构给出投资建议】8月26日数据显示，广东铝锭库存 19.15万吨，无锡18.40万吨，巩义8.80万吨，三地库存共计46.35万吨，较上期涨0.45万吨。2025年8月第 4周，16个工作日内，巴西累计装出铝矿石和铝精矿41.01万吨，去年8月为53.24万吨。日均装运量2.56 万吨/日，较去年8月增5.9%。8月25日，电解铝现货沪伦比值为7.93，进口盈亏-1353.55元/吨，上一进口 盈亏-1225.72元/吨。 华联期货认为，丰水期西南电解铝厂复产近尾声，原料备货和库存去化放缓，后 续采购意愿或减弱。因产能限制，产量提升空间有限。8月是消费淡季，终端市场未企稳回暖，但"金九 银十"临近，需求有望回升。建议中线滚动做多，沪铝2510参考支撑位20 ...

News Summary Core Viewpoint - The aluminum market is experiencing a mixed outlook with increasing inventory levels and weak demand, leading to potential price fluctuations in the near term [1][2][3]. Group 1: Market Data - As of July 4, the Shanghai Futures Exchange reported aluminum warehouse receipts at 38,485 tons, an increase of 10,228 tons from the previous trading day [1]. - In the fourth week of June 2025, Brazil exported a total of 519,900 tons of bauxite and alumina, down from 545,700 tons in July of the previous year, with a daily average shipment of 26,000 tons, a decrease of 4.73% year-on-year [1]. - On July 7, the aluminum rod inventory in major domestic consumption areas was 159,500 tons, an increase of 6,000 tons from the previous Thursday and 12,000 tons from the previous Monday, indicating a continued accumulation trend in the short term [1]. Group 2: Institutional Perspectives - Jinrui Futures noted that while the consumption side is showing negative feedback and inventory accumulation is still relatively low, the pressure on aluminum ingot inventory is expected to increase due to weakening demand and expectations of aluminum rod production shifts [2]. - The current spot market shows marginal improvements but remains under pressure, with backwardation and basis narrowing to low levels, while inventory depletion supports price holding by traders [2]. - Zhongtai Futures highlighted that despite improving market risk appetite due to trade agreements, the demand for aluminum rods is weak, leading to expectations of increased aluminum ingot inventory, although the space for inventory rebound remains limited [3].