水泥专题 | 顺周期目前有哪些细分值得关注?

天风国际
Apr 02

水泥作为纯正的顺周期板块,而且和房地产周期精密相关,实在是很难和“成长”这个词挂钩。但目前中国水泥盈利的底部拐点已现,且海外风险也在边际减弱,这其中或许存在不对称的上行机会。图片来源于:网络水泥本身的技术壁垒并不高,更多是成本控制所产生的竞争优势,首先,每一个工厂都有着固定的覆盖半径。一旦超过这个距离,就会失去成本优势,在涨价和把市场让给对手中二选一。根据中国水泥协会测算,普通水泥罐装车运输的经济...

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