建材行业周报：宏观预期还将持续，三季报度过至暗时刻

Investment Rating - The report rates the construction materials industry as "Overweight" [5] Core Views - The macroeconomic expectations are expected to continue, with the third quarter reports passing the darkest moment, leading to potential improvements in revenue growth and profitability in key industries [3][7] - The cement market has seen a significant price increase of 2.1% week-on-week, with prices rising mainly in North China, East China, Central South, and Southwest regions [4][26] - The report highlights the resilience of leading companies in the construction materials sector, with revenue growth potentially bottoming out and companies actively improving cash flow and expenses [7] Summary by Sections Cement Industry - The national cement market price has increased by 2.1% week-on-week, with price increases concentrated in specific regions [4][26] - The average price of domestic float glass is 1389.33 RMB/ton, up 60.70 RMB/ton, indicating a recovery in market demand and profitability [19][20] - Key recommended companies in the cement sector include Conch Cement, Huaxin Cement, and others, with expectations of substantial improvement in Q4 and 2024 [7][22] Glass Industry - The float glass market shows strong demand, with a significant recovery in profitability and confidence among manufacturers [19][20] - Recommendations include Fuyao Glass and Xinyi Glass, which are expected to benefit from global market share growth [20][21] Glass Fiber Industry - The glass fiber market is experiencing weak price consolidation, with demand not meeting expectations, particularly in the electronic yarn market [21] - The report suggests monitoring future order increases to gauge market recovery [21]