Industry changes this week
1) cement: the national cement market price this week was 509.8 yuan / ton, with a month on month increase of 0.66% and a year-on-year increase of 13.2%. This week, the national cement storage capacity ratio was 62.67%, with a month on month increase of 3.37 percentage points and a year-on-year increase of 14.28 percentage points. The cement shipment rate was 58.2%, with a month on month increase of 2.3 percentage points and a year-on-year decrease of 29.5 percentage points.
2) glass: the national average price of white glass this week was 205855 yuan / ton, down 2.6% month on month and 7.0% year-on-year. The glass inventory was 56.24 million heavy boxes, down 0.37% from last week and up 88.35% year-on-year; The utilization rate of glass capacity this weekend was 72.05%, up 1.08% year-on-year.
Investment strategy this week
Cement sector: at present, the current round of epidemic is still in multi-point outbreak, and the transmission range is gradually expanding. In addition, due to the influence of cloudy and rainy weather, the downstream construction slows down, which has a great impact on the shipment of enterprises. Given that it is difficult to end the impact of short-term epidemic prevention and control, and some enterprises have successively started or extended off peak production in order to alleviate the supply pressure, the cement price will maintain the shock adjustment trend in the later stage. In addition, once the epidemic prevention and control is lifted, the downstream demand will also be released. It is suggested to pay attention to Anhui Conch Cement Company Limited(600585) , Huaxin Cement Co.Ltd(600801) .
Real estate industry chain: from the perspective of real estate sales in March, the top 100 real estate enterprises achieved a sales amount of 579.5 billion yuan in March of 22 years, a year-on-year decrease of 52.6% compared with the previous reference year of 19 years, a year-on-year decrease of 37.5% and an increase of 26.2pct. From the perspective of normal years, the turnover in March is worse than that from January to February. With the gradual development of the policy, the sales data is expected to gradually pick up in the future. Recently, affected by the epidemic situation in various regions, the completion and construction of real estate have been impacted, and the downstream home decoration has also been delayed one after another, which has a great impact on the overall demand of the industrial chain. We suggest that we should focus on the attention of ‘ Hongda Xingye Co.Ltd(002002) 372 Oppein Home Group Inc(603833) , Suofeiya Home Collection Co.Ltd(002572) etc.
Glass fiber: this week, the average price of alkali free glass fiber yarn was 6882 yuan / ton, down 2.78 yuan / ton month on month, and the average price of medium alkali glass fiber yarn was 5850 yuan / ton, flat month on month; The average price of winding direct yarn was 6267 yuan / ton, up 16.67 yuan / ton month on month; The average price of electronic yarn was 9375 yuan / ton, down 625 yuan / ton month on month.
Glass: China’s float glass market rose and fell this week, with regional differences. Recently, downstream processing plants in the southern region have made some replenishment, the production and sales in Central China, East China and southwest China have improved, and the prices of some manufacturers have increased slightly after the price reduction. The northern region operates without temperature and fire, and the downstream replenishment power is temporarily insufficient. Order improvement is general, and attention is paid to the continuity of transaction. Pay attention to Zhuzhou Kibing Group Co.Ltd(601636) etc.
Risk warning: the completion is not as expected, the real estate is falling faster than expected, and the industry coordination is broken.
