2021 年4 月，长海股份公告拟择机出售10kg 贵金属铑材料。市场较为关心铑粉价格变动对玻纤投产的影响，我们针对铂铑合金漏板技术制造现状和发展趋势做研究梳理。我们认为铑价巨幅变动对玻纤龙头影响有限，对于无技术和铑粉储备的小企业，预计受限于行业投资壁垒提升，新建窑炉意愿或有下降。

3 月建材数据陆续发布。水泥产量两年复合增速保持平稳，需求旺盛；玻璃3 月量价齐升；玻纤厂商3 月提价后价格逐渐趋稳，随着下游需求旺盛行业景气度有望维持高位；3 月多数原料价格上涨，但随着原油价格企稳，部分原料初现跌价态势。

宏观方面，美国4 月10 日当周初请失业金人数57.1 万，远低于预期的71 万，美国经济复苏超预期。铜铝受下游需求较好影响，走势偏强。考虑到通胀修复对价格的提振作用，我们认为铜铝核心标的依然值得超配，同时建材景气持续上行，当前时点估值与盈利明显背离，建议左侧布局。个股方面，推荐紫金矿业-A/H、洛阳钼业-A/-H、五矿资源-H、赣锋锂业-A/-H；看好信义玻璃-H、旗滨集团-A、北新建材-A、太阳纸业-A、海螺水泥-A/H、宝钢股份-A，建议关注晨鸣纸业-A/H、玖龙纸业-H、华友钴业-A（未覆盖）。

Thermal spray coating is a coating process that involves heating a material in powder or wire form to a molten or semi-molten state. The material is then coated on a surface using a stream of gas or compressed air. The coating material consists of a single material such as ceramics or can be alloy or composite with unique physical properties. The report includes the study of the thermal spray coating market with respect to the growth prospects and restraints based on the regional analysis.

The paints and coatings industry is highly regulated. Manufacturers are adopting products with low Volatile Organic Compound (VOC) to manufacture paints and coatings. The paint and coating market is fragmented with large number of players available in the market in almost all the regions of the world. There are also several regional manufacturers. Around 10–12 large multinational manufacturers have expanded their operations to countries such as India and China. The production and consumption of paints and coatings is largest in the APAC region. The demand is high from countries such as China and India. The APAC region accounts for 56% share of the overall paint and coatings market by volume. The coatings market grows in tandem with the economy; thus, the market is expected to witness growth in developing economies.

Construction robotics are automatic systems or equipment that are specially developed to carry out construction operations in building structures for residential, commercial, and industrial sectors. The report on the global construction robotics market presents a detailed analysis of the trends, future estimations, and thorough study of the market depending on application, business type, end user, and region. The application covered in the study includes demolition, 3D printing, material handling, and surveillance. The report further provides information on business type of construction robotics, which includes new sales and aftermarket. Moreover, the report also covers different end user of construction robotics market, including residential, commercial, and industrial.

The swimming pool construction market report presents a detailed analysis of the trends, future estimations, and thorough study of the market based on material, construction type, end users and region. On the basis of material, the market is divided into concrete, fiberglass, vinyl liner, and steel frame. By construction type, it is bifurcated into above-ground and in-ground. Depending on end user, it is classified into residential and nonresidential. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The companies analyzed in the report are Aloha Pools Ltd., Aquamarine Pools, Concord Pools and Spas, Leisure Pools, Millennium Pools Pvt. Ltd., Myrtha Pools, Natare Corporation, Platinum Pools, Presidential Pools, Spas & Patio, and Southern Poolscapes.

水泥行业：整体保持稳健，局部受天气影响。本周全国水泥市场价格环比继续上行，涨幅为0.3%。价格上涨区域有辽宁、福建、浙江、江苏和山东等地，幅度20-50 元/吨；价格回落地区主要是河南，累计大幅下调20-50 元/吨。4月上旬，国内水泥市场需求整体表现稳健，局部区域受降雨影响，需求出现阶段性减弱，水泥价格延续上行态势为主。预计4 中下旬，全国水泥市场价格将会继续保持上升趋势。本周全国水泥库容比为48.44%，环比上周下降0.12%。

我们梳理了截至4 月8 日各板块已披露年报的公司数据，2020 年受疫情影响，煤炭需求下滑，在煤价下跌影响下煤炭板块盈利同比下降。但在全球流动性宽松的环境下，宏观定价的有色品种表现较好，前三季度受避险需求驱动，黄金价格表现优异。工业金属供应端受疫情扰动相对偏紧，而需求端率先修复带动工业金属价格上涨。建材方面，在赶工需求驱动下，各产品价格迎来上涨，板块盈利较好。综合来看，2020 年有色金属和建材板块盈利同比提升，煤炭板块盈利略降。

2017 年来地产新开工增速持续领先竣工，而通常从新开工到竣工周期在3 年左右，竣工交付约束下2020 年竣工需求理应相对不错，不过受疫情干扰地产竣工有所延迟，直到2020Q4 地产竣工方才实现同比正增长，而从今年年初数据来看，地产竣工正加快修复：今年1-2 月地产新开工面积1.7 亿平，同增64.3%，较2019 同期降9.4%；同期竣工面积1.4 亿平，同增40.4%，即使相对于2019 同期也实现8.2%增长，对建筑行业而言，地产竣工加快有望驱动装饰需求复苏。