两会提振市场预期，关注小阳春价格提涨情况

Investment Rating - The report maintains a "Recommended" rating for the construction materials industry [1] Core Views - The construction materials industry is expected to benefit from the recovery in demand and low supply levels, particularly in the cement sector, which has seen a slight increase in prices [2][41] - The government's focus on infrastructure investment and policies aimed at stimulating the real estate market are likely to accelerate the de-stocking of existing housing, boosting demand for consumer building materials [2][42] - The glass fiber market is experiencing price increases for both roving and electronic yarns, supported by demand from wind power and thermoplastics [2][43] - The float glass market is under pressure with declining prices and increasing inventory levels, indicating a need for monitoring supply changes [2][43] Summary by Sections Industry News - The government work report for 2025 emphasizes the issuance of special bonds totaling 4.4 trillion yuan to support infrastructure and real estate projects, which is expected to positively impact the construction materials sector [6][9] Industry Data - The average national cement price increased to 341.61 yuan/ton, reflecting a week-on-week growth of 0.69% [20] - The float glass price decreased to 1352.92 yuan/ton, with a week-on-week decline of 1.78% [22] Market Review - The construction materials sector outperformed the Shanghai and Shenzhen 300 Index by 1.24 percentage points, with a weekly increase of 2.62% [29] - The cement manufacturing segment showed a weekly increase of 3.49%, while the glass manufacturing segment increased by 1.00% [29]