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Building materials cement stocks across the board fell, with Shanshui Cement (00691) dropping by 5.88%. Institutions believe that cement prices lack the momentum for a rebound.
Jingu Financial News | Building materials and cement stocks across the board are declining. As of the time of publication, Shanshui Cement (00691) fell by 5.88%, Dongwu Cement (00695) fell by 5.29%, CNBM (03323) fell by 3.56%, CR Bldg Mat Tec (01313) fell by 3.55%, Huaxin Cement (06655) fell by 3.16%, Conch Cement (00914) fell by 2.48%. In addition, Tungkong International stated that since 2024, due to the real estate market still being in a deep adjustment phase, coupled with the continued slowing down of infrastructure investment growth, the cement industry's overall demand is weak, leading to a decline in domestic cement prices.
Hong Kong stock concept tracking | Cement prices raised in multiple provinces, institutions bullish on cement performance continues to improve (Concept stocks attached)
Jefferies Financial is most bullish on cement in the fourth quarter, as they see more convincing evidence.
Credit rating by large banks | Lyon: Bullish on the leading cement companies, performance is expected to continue to improve. Recommend conch cement, huaxin cement, etc.
Lyon released a report stating that the Ministry of Finance has begun to implement a more robust fiscal policy, expecting support for infrastructure growth next year. In addition, the bank believes that several rounds of price increases since June this year have proven that the cement industry has moved out of the stage of severe supply-demand imbalance. The bank pointed out that cement companies have re-agreed on coordinated production control to promote supply-demand balance. Therefore, with improvements in demand and coordinated supply, the cement industry is expected to achieve better profit performance next year. The bank is bullish on the possibility of sustained improvement in the performance of leading cement companies, and recommends Conch Cement, Huaxin Cement, CR Building Material Technology, and CNBM.
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