建筑材料行业周报：水泥和玻璃全国均价都略有下跌

Investment Rating - The investment rating for the construction materials industry is "Recommended" [1][28]. Core Views - The construction materials index decreased by 2.33% last week, outperforming the CSI 300 index by 0.27%. The cement and glass prices showed slight declines, with regional variations in price changes. The overall inventory levels for cement and clinker have decreased, indicating a medium to high level of inventory [1][4][16]. Summary by Sections Market Performance Review - The construction materials index fell by 2.33%, while the CSI 300 index dropped by 2.60%, indicating a relative outperformance of 0.27% [4]. - The cement index decreased by 1.58%, and the glass and fiberglass index fell by 2.62% [4]. Industry Dynamics and Key Sub-industry Tracking - In the real estate sector, the number of transactions in 30 major cities increased to 28,513 units, up by 6,665 units week-on-week, with a total transaction area of 279.98 million square meters, reflecting an 18.19% increase [5]. - The average national price of cement was 428 RMB/ton, down by 3 RMB/ton or 0.70% from the previous week, with the largest decline in the Southwest region [6][9]. - The average price of float glass was 1,391.43 RMB/ton, down by 11.43 RMB/ton or 0.81% from the previous week, with the largest decline in the North China region [13][15]. Core Investment Insights - The cement industry has shown price stabilization and an increase in inventory levels, with a 10% decline in both monthly and cumulative production values [16]. - The glass industry has experienced price increases and a decrease in inventory, indicating improved supply-demand dynamics, despite ongoing demand challenges due to declining real estate completions [16]. Recommended Stocks - Recommended stocks include Conch Cement, Huaxin Cement, Qibin Group, and Weixing New Materials, with specific profit forecasts and corresponding price-to-earnings ratios provided for each company [17][18][21].