建筑材料行业行业周报：淡季需求疲软，静待政策提振市场恢复

Investment Rating - The report does not explicitly state an investment rating for the construction materials industry, but it provides investment recommendations for specific companies within the sector. Core Views - The construction materials industry is currently experiencing weak demand, with expectations for recovery driven by policy support in 2025. [4][45] - Cement prices are declining due to reduced demand as the market enters a seasonal lull before the Spring Festival, with a forecast for further price drops in the short term. [4][45] - The consumer building materials sector is expected to see a rebound in demand due to the release of pent-up demand from existing housing and improved real estate policies. [4][46] - The glass fiber market is stable, with prices holding steady, while the float glass market is seeing price declines due to reduced end-user demand. [4][47] Summary by Sections Industry News - Hubei province has issued guidelines for the cement industry to implement staggered production to promote green and low-carbon development. [8] - Jiangxi province has released an action plan for improving air quality, which includes strict controls on high-emission projects in the construction materials sector. [11] Industry Data - The average national cement price is reported at 347.11 CNY per ton, with a week-on-week decrease of 0.90%. [21] - The float glass price has decreased to an average of 1374.78 CNY per ton, down 0.89% from the previous week. [23] Market Review - The construction materials sector has seen a decline of 1.63% this week, underperforming the CSI 300 index by 0.50 percentage points. [32] - Year-to-date, the construction materials sector has decreased by 4.71%, slightly outperforming the CSI 300 index. [32] Investment Recommendations - For consumer building materials, companies like Beixin Building Materials, Weixing New Materials, and Dongfang Yuhong are recommended due to their strong market positions and expected demand recovery. [4][48] - In the cement sector, Huaxin Cement and Shangfeng Cement are highlighted as potential beneficiaries of infrastructure investment recovery. [4][48] - For glass fiber, China Jushi is recommended due to its expected performance recovery in emerging markets. [4][48]