智通财经APP获悉，水泥股持续走高，截至发稿，华新水泥(06655)涨8.52%，报9.55港元；海螺水泥(00914)涨7.67%，报21.75港元；华润建材科技(01313)涨6.17%，报1.72港元；西部水泥(02233)涨5.6%，报1.32港元；中国建材(03323)涨4.32%，报3.86港元。
国信证券指出，关税冲击背景下，预计中国将出台更为积极的扩内需政策以对冲外需下滑，包括通过增发特别国债支持重大战略工程建设、加快地方政府化债进程，并加大对城中村改造及闲置土地回收等领域的资金支持力度。建筑建材行业由于对外需依赖度较低，预计将直接受益于内需扩张政策。东吴证券指出，如果外部需求快速回落，中西部基建很有可能成为救急的方向。
国泰海通证券指出，以产业链负债表为视角，预判观察年内水泥需求降幅压力放缓确定性高。从产业一线观察来看，“原在建”重点工程贡献了重要的内需对冲潜力。广东等经济大省的对冲启动或已经提前展开。观察水泥行业全国整体来看，4月错峰计划和进一步提价稳价形势顺利。该行指出，水泥行业需求韧性和格局稳固经受了考验，煤炭让利使得行业有机会将格局改善兑现成利润，25年第一季度盈利改善已值得期待。
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