本周北京方管市场价格弱势下跌。截至7月19日，北京市螺线沙龙批量成交指导价 格：Φ8-10mm高线为4800元(吨价，下同)，比上周同期下跌30元。河北钢铁集团产Φ12mm三级抗震螺纹钢为4120元，比上周同期下跌50 元；Φ25mm三级螺钢为3950元，比上周同期下跌10元。近期英国大选尘埃落地，约翰逊当选英国新首相，引发市场对于无协议脱欧风险的担忧。另一边，国际货币基金组织下调了今明两年世界经济的增长预期， 全球货币宽松预期正在加大，期货市场震荡下跌，钢坯价格小幅回落，北京方管市场价格弱势下行。近期钢厂到货不多，市场资源短缺较多，部分方管厂家惜售，高 温雨季的影响下，下游采购力度减弱，市场大户日成交量在100-2000吨。

This week, Beijing Fangguan's market prices fell weakly. As of July 19, Beijing Spiral Salon bulk trading guidance price: 8-10mm high line is 4800 yuan (ton price, the same below), 30 yuan lower than the same period last week. Hebei Iron and Steel Group produced 12mm three-stage aseismic screw steel at 4120 yuan, down 50 yuan from the same period last week; 25mm three-stage screw steel at 3950 yuan, down 10 yuan from the same period last week. Johnson's election as Britain's new prime minister has triggered concerns about the risk of an agreement-free exit from Europe. On the other hand, the International Monetary Fund lowered the growth expectations of the world economy for this year and next two years. Global monetary easing expectations are increasing, futures markets are shaking down, billet prices are slightly falling, and Beijing's square tube market prices are weakening. In recent years, steel mills are short of goods and market resources. Some merchants are reluctant to sell. Under the influence of high temperature and rainy season, downstream purchasing efforts have been weakened. The daily turnover of large market households is 100-2000 tons. 中美贸易方面有了新的进展。中美双方正在落实两国元首大阪峰会期间会晤期间达成的重要共识。近期美方宣布对110项中国输美工业品豁免加征关税，并且表示愿推动美国企业为相关中国企业继续供货。

New progress has been made in Sino-US trade. China and the United States are implementing the important consensus reached during the meeting between the two heads of state at Osaka Summit. Recently, the United States announced that it would impose tariffs on 110 exemptions for Chinese industrial products imported to the United States, and expressed its willingness to promote American enterprises to continue supplying to relevant Chinese enterprises.

环保关于限产又有了新的动向。唐山市发布了7月下旬全市大气污染防治加严管控措施的通知，7月21日0对至7月31日24时，首钢迁钢、沿海区域 的首钢京唐、文丰钢铁、唐钢中厚板、德龙钢铁、纵横钢铁，涉搬迁的天柱钢铁、华西钢铁、国义特钢，停20%的烧结机(竖炉)装备。丰南区、古冶区、开平 区、路北区、滦州市、滦南县、迁安市钢铁企业停70%的绕结机(竖炉)装备，丰润区、迁西县、遵化市钢铁企业停50%的绕结机(竖炉)装备。7月26日0 时至7月28日24时，全市钢铁企业烧结机(竖炉)装备全部停产，高炉休风闷炉。7月22日8时至29日20时，港口集疏运载重货车禁止进出港区，钢铁、 焦化、水泥企业不允许运输车辆进厂区。

Environmental protection has a new trend in limiting production. Tangshan City issued a notice of stricter control measures for air pollution control in the whole city in late July. From July 21 to July 31, 24:00, Shougang moved to Beijing and Tang, Wenfeng Iron and Steel, Tangshan Iron and Steel Plate, Delong Iron and Steel, Longitudinal and Horizontal Steel, Tianzhu Iron and Steel, Huaxi Iron and Steel and Guoyi Special Steel involved in the relocation stopped 20% of sintering machines. (Shaft furnace) equipment. Fengnan District, Guye District, Kaiping District, Lubei District, Luanzhou City, Luannan County, Qian'an City iron and steel enterprises stop 70% of winding machine (shaft furnace) equipment, Fengrun District, Qianxi County, Zunhua City iron and steel enterprises stop 50% of winding machine (shaft furnace) equipment. From 0:00 on July 26 to 24:00 on July 28, all sintering machines (shaft furnaces) in iron and steel enterprises in the city were shut down and the blast furnaces were closed. From 8:00 on July 22 to 20:00 on July 29, the harbour collection and distribution trucks are prohibited from entering and leaving the harbour area, and the steel, coking and cement enterprises are not allowed to enter the factory area for transport vehicles.

全球货币宽松预期正在加大，欧央行、澳洲央行将出会议决议，在此大的背景下，也增加了国内降准甚至降息的概率。总体来看，整体市场在低位运行，由 于各种不确定因素今年尤其多，所以市场反复震荡的大基调暂不会有太大的改观。高温、雨季等钢市销售淡季的影响下，预计下周北京方管市场价格将呈小幅调整的 态势。

The expectation of global monetary easing is increasing, and the ECB and the RBA will meet to decide on a resolution. In this context, it also increases the probability of domestic benchmark reduction or even interest rate reduction. Generally speaking, the overall market is operating at a low level. Due to various uncertainties, especially this year, the general tone of repeated market shocks will not change much for the time being. Influenced by the off-season sales of steel market such as high temperature and rainy season, it is expected that the price of square pipe market in Beijing will adjust slightly next week.