建筑材料行业周报：各地持续发力稳楼市，重视建材布局机会

Investment Rating - Investment Rating: Positive (Maintained) [2] Core Viewpoints - The report emphasizes the importance of stabilizing the real estate market and highlights opportunities in the building materials sector [5][9] - Recent government policies aim to enhance local government autonomy and flexibility in project management, which is expected to improve the efficiency of bond issuance and usage [2][5] - The building materials index has shown a decline of 4.70% recently, underperforming the CSI 300 index by 4.57 percentage points [9][13] Summary by Sections 1. Market Overview - The building materials index decreased by 4.70% from December 16 to December 20, 2024, while the CSI 300 index fell by 0.14% [9][13] - Over the past three months, the CSI 300 index increased by 17.18%, and the building materials index rose by 23.59%, outperforming the CSI 300 by 6.41 percentage points [9][13] - In the past year, the CSI 300 index increased by 17.92%, while the building materials index decreased by 1.04%, underperforming by 18.96 percentage points [9][13] 2. Cement Sector - As of December 20, 2024, the average price of P.O42.5 bulk cement nationwide was 363.08 yuan/ton, down 0.77% month-on-month [34][52] - The clinker inventory ratio nationwide was 50.39%, a decrease of 2.42 percentage points [22][34] 3. Glass Sector - The spot price of float glass as of December 21, 2024, was 1407.00 yuan/ton, reflecting a decrease of 0.21% [52][54] - The price of photovoltaic glass remained stable at 121.48 yuan/weight box [56] 4. Raw Material Price Tracking - The report notes a slight decline in the prices of major raw materials, including a decrease in the price of heavy soda ash by 25.00 yuan/ton, down 1.64% [57][66] - The futures price of soda ash decreased by 38.00 yuan/weight box, a drop of 2.53% [57][66] 5. Company Recommendations - Recommended companies in the consumer building materials sector include Dongfang Yuhong, Weixing New Materials, and Sankeshu [2][5] - Beneficiary stocks in the cement sector include Conch Cement, Huaxin Cement, and Shangfeng Cement [2][5]