随着工业和信息化等部门密集发布有色金属、石化化工、建材等重点行业的稳增长工作方案，一场以"数字化转型+绿色化突 围"为核心的产业变革正加速落地。此轮稳增长方案的本质是，将政策红利精准注入"新质生产力"的毛细血管。本微信公众号特 推出"观策论市"报道，聚焦政策锚点，结合相关产业形势，剖析未来的结构性机会。 编者按： 近日，工业和信息化部等部门联合印发了《建材行业稳增长工作方案（2025—2026年）》（下称《方案》），对建材行业发展 提出了新要求。 具体来看，《方案》聚焦建材行业高质量发展，提出"推动绿色建材、先进无机非金属材料发展，并严禁新增水泥、平板玻璃产 能"。 胡鹏介绍，《方案》并未对产能退出做强制性要求，预计玻璃行业出清仍以市场化为主。目前，河北、湖北等地正推动区域内 玻璃企业降低能耗，要求企业的燃料系统从传统的煤炭、石油焦转向煤制气和天然气。若后期这些工作取得积极进展，部分小 产线和落后产能有望出清，玻璃行业平均成本或小幅抬升。不过，预计行业产能出清较为有限，明年浮法玻璃在产日熔量或在 16万吨附近波动。 对纯碱而言，魏朝明表示，纯碱期货标准交割品重碱主要应用于浮法玻璃和光伏玻璃，两者产能规模受政策 ...

商务部新闻发言人就墨西哥近日连续对我发起多起反倾销调查答记者问。 问：据报道，墨西哥近日连续对中国的浮法玻璃、自粘胶带、聚氯乙烯涂塑布和钢制螺栓发起反倾销调查。商务部对此有何回应？ 答：我们注意到，墨西哥经济部应国内企业申请，近日连续对我浮法玻璃、聚氯乙烯涂塑布等产品发起4起反倾销调查。 中方坚决反对 损害中方正当权益的保护主义行为，将密切关注墨方调查进展，敦促墨方在调查中严格遵守世贸组织规则，保障中国企业的合法权益 今年以来，墨西哥对中国产品的反倾销调查已达11起，几乎为去年立案总数的两倍，而中方一直审慎克制发起贸易救济调查。中方认 为，在当前美方滥施关税的背景下，各国应共同反对单边主义，不应放任保护主义蔓延，更不应在他人胁迫下以各种名目对华设限。 商务部已依据《对外贸易法》和《对外贸易壁垒调查规则》有关规定，就墨西哥拟对华提高进口关税和其他贸易投资限制措施启动贸易 投资壁垒调查。中方将根据调查结果和实际情况，采取包括贸易、投资领域在内的一切必要措施，坚决维护企业合法权益。 来源：商务部网站 End 欢迎分享给你的朋友！ 出品 | 中国能源报（c ne ne rgy） 责编丨李慧颖 。 ...

纯碱玻璃产业日报 2025-09-30 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | | 纯碱主力合约收盘价(日,元/吨) | 1255 | -23 玻璃主力合约收盘价(日,元/吨) | 1210 | -18 | | | 纯碱与玻璃价差(日,元/吨) | 45 | -5 纯碱主力合约持仓量(日,手) | 1250366 | -57443 | | | 玻璃主力合约持仓量(日,手) | 990735 | -166760 纯碱前20名净持仓 | -240287 | 5400 | | 期货市场 | 玻璃前20名净持仓 | -84622 | 18719 纯碱交易所仓单(日,吨) | 6352 | 600 | | | 玻璃交易所仓单(日,吨) | 0 | 0 纯碱基差(日,元/吨) | -68 | 5 | | | 玻璃基差 | -54 | 26 1月-5月玻璃合约 | -116 | 2 | | | 1月-5月纯碱合约 | -94 | -6 | | | | | 华北重碱(日,元/吨) | 1210 | -10 ...

Group 1: Report Investment Ratings and Strategies - Glass investment strategy: Weak and oscillating [2] - Soda ash investment strategy: Weak and oscillating [2] - Silicomanganese investment strategy: Oscillating [4] - Ferrosilicon investment strategy: Oscillating [4] Group 2: Core Views - Market sentiment is weak, and steel prices are oscillating downward; glass and soda ash markets are weak and oscillating due to cautious downstream procurement; the dual - silicon market is weak due to unmet peak - season demand [1][3] Group 3: Market Analysis Glass - Yesterday, the glass futures market opened lower and oscillated weakly. Downstream procurement is cautious, mainly for rigid demand. Supply is generally stable, consumption is affected by speculative demand and downstream inventory replenishment, inventory has decreased but overall change is limited, and fundamentals suppress prices. Attention should be paid to macro - policy changes and peak - season demand [1] Soda Ash - Yesterday, the soda ash futures market opened lower and oscillated weakly. Downstream procurement is mainly for rigid - demand replenishment. There are still supply - demand contradictions, and attention should be paid to whether speculative demand weakens. The futures premium suppresses prices, and attention should be paid to new - capacity投产 progress and inventory changes [1] Silicomanganese - Yesterday, the coking coal futures tumbled, and the silicomanganese futures followed suit. The main contract closed at 5,820 yuan/ton, down 46 yuan/ton from the previous day.节前 market transactions were sluggish. This week, production continued to decline, hot - metal production increased slightly, downstream demand remained resilient, and alloy - enterprise inventory increased significantly. In the long run, supply - demand is relatively loose. Considering the futures discount to the spot, prices are expected to oscillate and follow the sector's fluctuations. Attention should be paid to regional policies and cost - support changes [3] Ferrosilicon - Yesterday, the main ferrosilicon futures contract closed at 5,610 yuan/ton, down 70 yuan/ton from the previous day. The market sentiment was average, and the trading atmosphere needed to be strengthened. This week, production and operating rates rebounded slightly, demand increased slightly with hot - metal production, factory inventory decreased month - on - month, and inventory was at a medium level compared to the same period. Currently, there are few supply - demand contradictions, and prices are expected to follow the sector's fluctuations. Attention should be paid to changes in coal and electricity prices at the cost end and regional policies [3] Group 4: Figures - The report includes figures such as Shanghai rebar and hot - rolled coil spot price trends, futures contract closing - price trends, basis trends, cost and profit trends of various products, and spot price trends of raw materials like iron ore, coke, and coking coal [5]

投资咨询业务资格：证监许可【2012】669号 中信期货研究|⿊⾊建材策略⽇报 2025-09-30 节前补库暂告段落，节后政策仍有预期 昨⽇⽇盘⿊⾊建材板块整体震荡回调，⼀⽅⾯，临近⻓假，前期交易 补库需求的资⾦趋于离场；另⼀⽅⾯，焦化限产未被证实，则使得市 场"反内卷"情绪降温。夜盘时段期价震荡为主。虽然补库逻辑趋于 结束，但考虑到10⽉份重磅会议召开，有望再度增加市场信⼼，因 此预计板块品种价格下⽅空间有限。 昨日日盘黑色建材板块整体震荡回调，一方面，临近长假，前期交易 补库需求的资金趋于离场；另一方面，焦化限产未被证实，则使得市 场"反内卷"情绪降温。夜盘时段期价震荡为主。虽然补库逻辑趋于 结束，但考虑到10月份重磅会议召开，有望再度增加市场信心，因此 预计板块品种价格下方空间有限。 1、铁元素方面，铁矿需求高位支撑，海外矿山发运平稳，到港节奏 则收到台风扰动，基本面仍有支撑，但考虑到节前补库需求暂告段落 以及建材旺季需求有待进一步验证，因此限制铁矿上方空间，预计短 期价格震荡。废钢供需双增，但钢企补库接近尾声，且成材价格承压 导致电炉利润收缩，预计短期价格跟随成材震荡为主。 2、碳元素方面，钢厂补库 ...

Core Viewpoint - The Ministry of Industry and Information Technology and five other departments have jointly released the "Construction Materials Industry Stabilization Growth Work Plan (2025-2026)", which outlines five key initiatives to promote industry growth and transformation [1][2]. Group 1: Key Initiatives - The plan emphasizes strengthening industry management to promote survival of the fittest [1][2]. - It calls for enhanced technological innovation in the industry to improve effective supply capacity [1][2]. - The plan aims to expand effective investment to facilitate industry transformation and upgrading [1][2]. - It seeks to stimulate consumer demand to unleash market consumption potential [1][2]. - The initiative includes deepening open cooperation to enhance international development levels [1][2]. Group 2: Industry Specifics - Cement and glass production will be strictly controlled, with a ban on new cement clinker and flat glass capacity, and existing projects must develop capacity replacement plans [2]. - The cement industry is expected to see a decline in capacity under the anti-overproduction policy, with utilization rates significantly improving [3]. - The glass industry is facing a continuous decline in demand due to real estate impacts, but recent policy-driven price increases are leading to inventory replenishment [3]. - The fiberglass sector is experiencing growth driven by demand from the AI industry, with expectations for a significant increase in both volume and price [3]. - The consumer building materials sector has reached a profitability bottom, with strong price increase demands supported by anti-overproduction policies [4]. Group 3: Market Performance - In the past week (September 22-28), the construction materials sector index decreased by 2.11%, ranking 23rd among 31 sub-industry indices [5].

行业 纯碱、玻璃日报 日期 2025 年 9 月 30 日 油） 021-60635738 lijie@ccb.ccbfutures.com 期货从业资格号：F3031215 021-60635737 renjunchi@ccb.ccbfutures.com 期货从业资格号：F3037892 硅）028-8663 0631 penghaozhou@ccb.ccbfutures.com 期货从业资格号：F3065843 021-60635740 pengjinglin@ccb.ccbfutures.com 期货从业资格号：F3075681 021-60635570 liuyouran@ccb.ccbfutures.com 期货从业资格号：F03094925 021-60635727 期货从业资格号：F03134307 fengzeren@ccb.ccbfutures.com 能源化工研究团队 研究员：李捷,CFA（原油燃料 研究员：任俊弛（PTA、MEG） 研究员：彭浩洲（尿素、工业 研究员：彭婧霖（聚烯烃） 研究员：刘悠然（纸浆） 研究员：冯泽仁（玻璃、纯碱） 请阅读正文后的声明 ＃summary＃ 一、纯碱 ...

黑色建材日报 2025-09-30 黑色建材组 陈张滢 从业资格号：F03098415 交易咨询号：Z0020771 0755-23375161 chenzy@wkqh.cn 郎志杰 从业资格号：F3030112 0755-23375125 langzj@wkqh.cn 万林新 从业资格号：F03133967 0755-23375162 wanlx@wkqh.cn 赵 航 从业资格号：F03133652 0755-23375155 zhao3@wkqh.cn 【行情资讯】 螺纹钢主力合约下午收盘价为 3097 元/吨, 较上一交易日跌 17 元/吨（-0.54%）。当日注册仓单 270238 吨, 环比减少 2412 吨。主力合约持仓量为 192.6639 万手，环比减少 49906 手。现货市场方面, 螺纹钢天 津汇总价格为 3220 元/吨, 环比减少 0/吨; 上海汇总价格为 3240 元/吨, 环比减少 20 元/吨。 热轧板卷 主力合约收盘价为 3289 元/吨, 较上一交易日跌 24 元/吨（-0.72%）。 当日注册仓单 28314 吨, 环比减 少 0 吨。主力合约持仓量为 138.447 万 ...

Industry Investment Rating - The investment rating for the construction materials industry is "Outperform the Market" and is maintained [1] Core Insights - The Ministry of Industry and Information Technology, along with five other departments, has released a "Stabilization Growth Work Plan for the Construction Materials Industry (2025-2026)", which includes five key initiatives aimed at enhancing industry management, promoting technological innovation, expanding effective investment, stimulating consumer demand, and deepening international cooperation [4] - The plan emphasizes strict control over the production capacity of cement and glass, prohibiting new capacity for cement clinker and flat glass, and requiring capacity replacement plans for new and renovated projects [4] - The cement industry is entering its peak season, with demand showing signs of recovery, although growth remains limited. In August 2025, cement production was 148 million tons, a year-on-year decrease of 6.2% [10][5] - The glass industry is experiencing a continuous decline in demand due to real estate impacts, but recent policy catalysts have led to price increases and inventory replenishment in the midstream sector [15][5] Summary by Sections Cement - The cement market is gradually entering the peak season, with overall demand recovering slowly. The construction sector's demand has not fully materialized due to weather disruptions and the pace of demand release [10] - The industry is expected to see a continuous decline in production capacity under the restriction policies, leading to a significant increase in capacity utilization [5] Glass - The glass industry is facing a sustained downward trend in demand due to real estate influences. However, recent policy changes have led to price increases and midstream inventory replenishment [15][5] - The majority of companies in the float glass sector have met environmental requirements, suggesting that the anti-involution policy will not lead to a blanket capacity clearance but will raise environmental standards and costs [5] Fiberglass - The fiberglass sector is experiencing a boom driven by demand from the AI industry, with low dielectric products seeing a significant increase in both volume and price [5] Consumer Building Materials - The profitability of the consumer building materials sector has reached a bottom, with no further downward price pressure. The sector is seeing a strong demand for price increases and profitability improvements, particularly in waterproofing, coatings, and gypsum board [6]

本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 议，纯碱主力短期逢低布局多单，注意操作风险。 纯碱玻璃产业日报 2025-09-29 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | | 纯碱主力合约收盘价(日,元/吨) | 1278 | -15 玻璃主力合约收盘价(日,元/吨) | 1228 | -24 | | 期货市场 | 纯碱与玻璃价差(日,元/吨) 玻璃主力合约持仓量(日,手) | 50 1157495 | 9 纯碱主力合约持仓量(日,手) -133566 纯碱前20名净持仓 | 1307809 -261200 | -51954 -698 ...