金吾财讯 | 建材水泥早盘承压，海螺水泥(00914)跌3.3%，西部水泥(02233)跌3.28%，金隅集团(02009)跌2.35%，华新水泥(06655)跌1.9%，华润建材科技(01313)跌1.44%。中信证券表示，水泥行业需求中长期料将处于下行阶段，未来行业的变化更多聚焦于供给端。2016年水泥行业供给侧改革使得新增水泥熟料产能大幅下降，但落后产能出清速度不及预期，且行业仍存在普遍超产的问题。2024年以来水泥需求大幅下降，行业亏损严重，工信部修订印发了《水泥玻璃行业产能置换实施办法（2024年本）》，有望加速3亿吨以上落后水泥熟料产能的出清，将实际产能从21亿吨压降至设计产能18亿吨以内。供给侧产能的优化有助于行业生态的好转，水泥行业有望改变大幅亏损的局面，恢复到合理的盈利水平。
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