建筑材料行业周报：房地产市场边际改善，关注建材投资机会
建筑材料2025年06月22日投资评级：看好（维持）行业走势图数据来源：聚源《城市更新政策落实到位，关注建材投资机会—行业周报》-2025.6.15《城市更新释放消费潜力，关注建材投资机会—行业点评报告》-2025.6.9《二手房价格降幅同比收窄，关注建材投资机会—行业周报》-2025.5.25-24%-12%0%12%24%36%2024-062024-10建筑材料相关研究报告 1/22 2025-02沪深300 目录1、市场行情每周回顾：本周下跌1.42%，跑输沪深300...........................................................................................................41.1、行情：本周建材板块下跌1.42%，跑输沪深300指数0.97pct...................................................................................41.2、估值表现：本周PE为25.19倍，PB为1.07倍...........................................................................................................52、水泥板块：全国均价环比下跌，熟料库存环比上涨..............................................................................................................62.1、基本面跟踪：全国均价环比下跌，熟料库存环比上涨...............................................................................................62.2、主要原材料价格跟踪：动力煤价格环比持平...............................................................................................................92.3、水泥板块上市企业估值跟踪........................................................................................................................................113、玻璃板块：浮法玻璃价格下跌、光伏玻璃价格下跌............................................................................................................123.1、浮法玻璃：现货价格环比下跌，期货价格环比上涨，库存环比增加.....................................................................123.2、光伏玻璃：光伏玻璃价格环比下跌.............................................................................................................................133.3、主要原材料价格跟踪....................................................................................................................................................133.3.1、重质纯碱：现货价格环比下跌、期货价格环比上涨，库存环比上涨、开工率环比上涨..........................133.3.2、石油焦价格环比下跌，重油价格环比上涨，天然气环比下跌......................................................................143.4、浮法玻璃、光伏玻璃盈利能力跟踪.............................................................................................................................153.5、玻璃板块上市企业估值跟踪........................................................................................................................................174、玻璃纤维板块：无碱粗纱市场价格偏稳运行，各厂走货显一般........................................................................................174.1、无碱粗纱市场价格偏稳运行，各厂走货显一般.........................................................................................................174.2、玻纤板块上市企业估值跟踪........................................................................................................................................185、消费建材板块：原材料价格维持小幅波动的态势................................................................................................................195.1、原材料价格跟踪：消费建材主要原材料维持小幅波动的态势.................................................................................195.2、消费建材板块上市企业估值跟踪................................................................................................................................196、风险提示...................................................................................................................................................................................19图表目录图1：本周建材板块跑输沪深300指数0.97pct............................................................................................................................4图2：近三个月，建材行业跑输沪深300指数4.66pct................................................................................................................4图3：近一年，建材行业跑输沪深300指数8.05pct....................................................................................................................4图4：建材子板块多数下跌，玻纤制造涨幅最大.........................................................................................................................5图5：个股方面涨少跌多................................................................................................................................................................5图6：本周建材板块市盈率PE为25.19倍，位列A股全行业倒数第16位.............................................................................6图7：本周建材板块市净率PB为1.07倍，位列A股全行业倒数第3位.................................................................................6图8：本周全国P.O42.5水泥价格环比下跌2.55%.......................................................................................................................7图9：本周全国熟料库存环比上升5.85pct....................................................................................................................................7图10：本周东北地区水泥价格环比下跌3.01%...........................................................................................................................7图11：本周东北地区熟料库存辽宁、吉林、黑龙江环比下降...................................................................................................7图12：本周华北地区水泥价格环比下跌0.69%...........................................................................................................................7图13：本周华北地区熟料库存山西、内蒙古环比上升，河北、北京环比持平.......................................................................7图14：本周华东地区水泥价格环比下跌3.93
