According to China Energy Network, in the first three quarters of 2025, 77 listed building materials companies collectively achieved operating revenue of 489.861 billion yuan, a year-on-year decrease of 5.74%; gross profit margin reached 19.38%, an increase of 0.22 percentage points year-on-year.

The building materials sector experienced weak demand and modest revenue contraction in the first three quarters of this year. However, profit margins improved significantly due to cost-cutting measures and price hikes for certain products.

Cement: Overall demand remains weak, with prices significantly below last year's levels. Cement demand showed slight improvement in October, but national demand appears to have peaked. The intensity of off-peak production restrictions continued to increase, but their effectiveness in regulating industry supply gradually diminished, leading to increased pressure on clinker inventories. Cement prices in most regions of the country saw tentative increases, rising 2.22% month-on-month. Looking ahead, demand is expected to decline in November due to colder temperatures. Northern regions will gradually enter the winter off-peak production phase, and clinker inventories will gradually decline to low levels. Cement companies are expected to continue raising prices in November, but the rate of increase is expected to narrow.

Consumer Building Materials: Monthly retail sales show sequential improvement, supported by urban renewal and “quality housing” initiatives. From January to September 2025, retail sales of construction and decoration materials grew 1.6% year-on-year, with September alone recording a 0.1% year-on-year decline but a 10.49% month-on-month increase. As the seasonal slowdown in home renovation concludes, retail demand for construction materials shows marginal improvement. However, overall market weakness this year has kept demand below historical levels for this period. Looking ahead, the ongoing implementation of urban renewal strategies will directly unlock demand for scenarios like urban village renovations and dilapidated housing upgrades. Meanwhile, advancing “quality housing” construction standards will boost market penetration of high-quality green building materials.

Float Glass: October average prices rebounded, stabilizing at low levels amid short-term inventory pressure. Terminal demand in October fell short of the same period last year, with increased market caution and more prudent procurement. Monthly production capacity rose month-on-month, slightly increasing total industry supply. While October's average price turned upward, prices trended downward within the month. Looking ahead, year-end rush demand in Q4 is expected to improve only marginally. With enterprises operating at high inventory levels, price constraints are anticipated, suggesting short-term prices will remain largely stable.

As an integrated internet platform providing benchmark prices, on November 12, the benchmark price of glass on SunSirs was 14.03 RMB/square meter, an increase of 1.30% compared with the beginning of the month (13.85 RMB /square meter).Application of SunSirs Benchmark Pricing：

Traders can price spot and contract transactions based on the pricing principle of agreed markup and pricing formula (Transaction price=SunSirs price + Markup).

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