本周北京方管市场价格弱势走低。近期美联储可能降息，各国可能采取宽松货币政策，英国无序脱欧等事件频发，使期货市场震荡加剧，钢坯价格先跌后小幅反弹，北京方管市场价格弱势走低。市 场成交减弱，下游采购不积极，大户日成交量在100-2000吨左右。低价出货较好，商家报价向下靠拢。目前方管厂家资源到货不多，整体库存较上周变化不大。

This week, Beijing's Fangguan market price weakened. Recently, the Federal Reserve may cut interest rates, countries may adopt loose monetary policy, the frequent occurrence of disorderly separation from Europe and other events in the UK, which aggravates the volatility of the futures market, steel billet prices first fell and then rebounded slightly, and the price of Beijing square tube market is weak. Market turnover is weakening, downstream purchasing is not active, the daily turnover of large households is about 100-2000 tons. Low-price shipment is better, business quotations close down. At present, the resources of the manufacturer under square control do not arrive much, and the overall inventory has not changed much compared with last week.

从美联储主席鲍威尔讲话暗示可能降息，引起资本市场轩然大波，大宗商品普遍上涨。同时，澳洲打响降息潮第二枪，降息至历史最低水准，中国央行6份“补水”无 悬念，引发降准或变相变准的预期，全球货币趋向宽松的预期正在加大。对于环保方面一个是要看落实，另一个要看是否扩大化，目前只是河北唐山等局地性行政限 产，且暂未涉及到螺线等长材品种。再有就是进入6月份淡季需求已经开始显现，虽然整体韧性仍在，但对持续上涨的支撑条件并不充足，一定程度限制了反弹空 间,短期来看，需要重点关注新的库存数据变化对市场情绪的影响。端午节后，下游需求减弱，市场资源到货不多，预计下周北京方管市场价格将呈小幅调整的态 势。

From the speech of Federal Reserve Chairman Powell, it was suggested that interest rates might be cut, which caused a great disturbance in the capital market and a general rise in commodities. At the same time, Australia launched the second wave of interest rate cuts, lowering interest rates to the lowest level in history. The six replenishments of the Central Bank of China are not suspected, triggering the expectation of reduction or change of the benchmark, and the expectation of global monetary easing is increasing. For environmental protection, one is to see the implementation, the other is to see whether it is expanded. At present, only local administrative production restrictions such as Tangshan, Hebei Province, have not yet been involved in spiral and other long timber varieties. Moreover, the demand has begun to show in the off-season of June. Although the overall resilience is still in place, the support conditions for the sustained rise are not sufficient, which limits the rebound space to a certain extent. In the short term, we need to focus on the impact of new inventory data changes on market sentiment. After the Dragon Boat Festival, downstream demand weakened and market resources did not arrive much. It is expected that the market price of Beijing Square Management will be adjusted slightly next week.

方管价格方面，截 至6月6日，北京市螺线沙龙批量成交指导价格：Φ8-10mm高线为4770元(吨价，下同)，与上周同期持平。河北钢铁集团产Φ12mm三级抗震螺纹钢 为4010元，比上周同期下跌20元；Φ25mm三级螺钢为3930元，比上周同期下跌70元。

As for the square pipe price, as of June 6, the guiding price for volume trading of Beijing Spiral Salon was 4770 yuan (ton price, the same below) for the 8-10mm high line, which was the same as last week. Hebei Iron and Steel Group produced 12mm three-stage aseismic screw steel for 4010 yuan, down 20 yuan from the same period last week; 25mm three-stage screw steel for 3930 yuan, down 70 yuan from the same period last week.