智通财经APP获悉，水泥股午后跌幅扩大，截至发稿，中国建材(03323)跌4.62%，报4.96港元；海螺水泥(00914)跌3.46%，报22.88港元；西部水泥(02233)跌3.26%，报2.97港元；华润建材科技(01313)跌1.89%，报1.56港元。
东吴证券发布研报称，11月下旬，南方地区水泥需求继续微幅回升，但北方地区受降温天气影响，需求持续减弱，导致全国重点地区水泥企业出货率环比下降约0.5个百分点。价格方面，由于前期多个省份涨价未能企稳，部分地区价格出现回调，带动整体市场价格震荡下行。鉴于南方地区水泥企业仍有继续推涨意愿，我们预计后期水泥价格将维持震荡调整走势。
平安证券则表示，2025年水泥行业景气度走弱、价格前高后低，1-10月水泥产量累计同比下滑6.7%。展望2026年，考虑当前企业盈利微弱、限制超产后行业供需关系或改善，预计水泥盈利较2025H2小幅改善，若严格限制日度超产、水泥旺季提价或更顺畅，同时关注行业整合进展。
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