建材反内卷一行一策,边际关注需求预期 | 国泰海通建材鲍雁辛团队

鲍大侠之建材
Jul 22, 2025

| 导读 |建材行业不同板块的反内卷思路和具体举措呈现完全不同的节奏,而在供给预期已经引起充分关注后,市场对后续需求端的配合力度关注会进一步提升。| 投资要点 |7月以来建材行业呈现更强的“反内卷”政策导向,分行业来看具有一行一策的特征。水泥行业有限制超产的政策抓手,玻璃行业光伏玻璃自律减产较领先,消费建材行业自身主动改善价格竞争格局。市场对供给侧政策的具体执行落地进入紧密观察的阶段,而后续需求端...

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