本周杭州方管市场价格大幅下跌，截至5月17日，杭州方管批量成交指导价格：沙钢 Φ8-10mm高线为4310元,比上周同期降50，中天Φ12mm三级螺纹钢为4120元，比上周同期降70，中天Φ25mm三级螺钢为3960元，比 上周同期降70，永钢Φ8-10mm三级盘螺为4310元，比上周同期降60。本周期螺呈震荡态势，周末江苏地区主要方管厂家发布新一期价格政策，从市场来看，倒挂明显，因此导致市场整体氛围异常悲观。周一期螺下行，市场心态悲 观，成交较差，现货价格下行，周二开始期螺有所回暖，成交尚可，但因方管厂家严重亏损，，市场心态依旧没有恢复。端午佳节来临，但是市场反应平淡，成交低 迷，多数终端采购在期货下行的情况下，采购步伐进一步放缓，方管厂家心态不佳。

This week, Hangzhou square pipe market prices fell sharply. As of May 17, Hangzhou square pipe volume trading guidance prices: Shagang 8-10mm high line was 431 yuan, 50 yuan lower than the same period last week, Zhongtian 12 mm three-level screw steel was 4120 yuan, 70 yuan lower than the same period last week, and Zhongtian 25 mm three-level screw steel was 3960 yuan lower than the same period last week, 70 yuan lower than the same period last week, Yonggang 8-10mm three-level screw was 431 yuan lower than the same period last week. This weekend, the main manufacturers in Jiangsu Province issued a new price policy. From the market point of view, the inversion is obvious, which leads to a very pessimistic overall market atmosphere. Monday snail downward, the market mentality is pessimistic, trading is poor, spot prices downward, Tuesday began snail warming up, trading is still acceptable, but due to the serious losses of traders, the market mentality is still not restored. The Dragon Boat Festival is approaching, but the market reaction is dull and the turnover is sluggish. Most terminal purchases have slowed down further when the futures are down. Traders are not in a good mood.

从基本面来看，目前方管整体社会库存降速趋缓，甚至有回升的趋势，而且钢厂盈利仍然可观，其产量持续高位释放，但随着淡季的到来，下游需求明显在逐渐减弱，后期的供需压力必将增大，因此基本面的平衡能否继续维持，还需要打一个大大的问号。|

From the basic point of view, at present, the overall social inventory of square management is slowing down, even has a trend of rebound, and the profits of steel mills are still considerable, and their output continues to release at a high level. However, with the coming of the off-season, the demand downstream is obviously weakening, and the pressure of supply and demand in the later period will increase. Therefore, whether the balance of the basic level can be maintained still needs to be greatly questioned. A kind of

原材料方面：截至发稿，6日早唐山、昌黎迁安方坯含税出厂3550,昨涨10；夜盘期螺3714跌29卷3564跌36矿717跌1.5。

Raw materials: Up to publication, Tangshan and Changli Qian'an billets with tax were discharged in the morning of 6 th, up 10% yesterday; snail 3714 fell 29 volumes, 3564, 36 mines, 717, down 1.5 in the night market.

库存方面：据统计6日唐山主要仓库钢坯库存约18.5万吨，较上期(24日)降2.3万吨，与去年同期基本持平。

Inventory: According to statistics, the stock of billets in Tangshan main warehouse was about 185,000 tons on the 6th, 23,000 tons lower than the previous period (24 days), which was basically the same as the same period last year.

综合来看综上所述，杭州进入梅雨季节，价格频频回落，北材南下也受阻，去库存速度有所放缓。而且外部环境的不稳定也对市场心态有所影响。综上所述，预计下周杭州方管市场价格或震荡趋弱。

To sum up, Hangzhou has entered the Meiyu season, the prices have fallen frequently, the northbound timber has also been hindered, and the speed of inventory removal has slowed down. And the instability of the external environment also has an impact on the market mentality. To sum up, it is expected that the market price or shock will weaken in Hangzhou next week.