本周方管市场价格再度回落。截止8月23日国内热轧卷板均价3750元(吨价，下同)，较上周同期跌22元，较上月同期下跌148元。移仓换月越来越近，本周期货多空博弈剧烈，在此影响下，下游拿货也一再观望。临近八月底，下游需求仍没有明显抬头。在贸易战影响下，机加工产品出口受到抑 制，一些华东地区机械及钢构厂不少关停，外贸出口不利的情况下，靠内需带动的需求仍然有限，下游拿货一再观望。由于盘面的动荡，采购方只有在盘面稳定后方 会入场。一些方管厂家维保销量普遍优惠10元出货，价格较上周再次小幅回落。

This week, market prices fell again. As of August 23, the average price of domestic hot rolled coil sheet was 3750 yuan (ton price, the same below), which was 22 yuan lower than the same period last week and 148 yuan lower than the same period last month. The month of warehouse transfer is getting closer and closer. This week, the multi-empty game of futures is fierce. Under the influence of this, the downstream pickup is also waiting and watching. Near the end of August, downstream demand is still not rising significantly. Under the influence of the trade war, the export of machined products has been restrained, many machinery and steel factories in eastern China have been closed down, and the demand driven by domestic demand is still limited when the export of foreign trade is unfavorable. Due to the instability of the market, the purchaser will enter only after the market is stable. Some manufacturers generally offer a 10 yuan discount on maintenance sales, and the price is slightly lower than last week. 据我网统计，截至8月23日，国内热卷社会库存 235.79万吨，较上周降0.3%，其中乐从热卷库存58.9万吨，周环比降3.3%，主要原因在于台风影响，本周到货资源不多，方管厂家们减仓变现使得 库存下行。此外，临近结算日，商家提拉价格的意愿不大，华北地区价格在3690-3750元，其中邯郸地区价格3690元，价格最低。华东地区价格 3730-3780元，华南价格3780-3830元。出货水平华北地区大户1500吨上下，华东华南在400-1000吨左右，较上周出货好。

According to our network statistics, as of August 23, the domestic hot coil social inventory was 2.3579 million tons, down 0.3% from last week. Among them, Lecong hot coil inventory was 589,000 tons, and the circumferential ratio was down 3.3%. The main reason was the impact of typhoon. This week's arrival resources were not enough, and square tube manufacturers reduced their warehouse cash to make the inventory down. In addition, near the settlement date, the willingness of merchants to raise prices is not strong. The price in North China is 3690 yuan, among which Handan is the lowest. The price of East China is 3730-3780 yuan, and that of South China is 3780-3830 yuan. The shipment level is about 1500 tons for large households in North China and 400-1000 tons for East and South China, which is better than last week's shipment.

后市而言，期货移仓换月趋近，期货市场继续多空震荡，而结算过后，在需求没有抬头的情况下，下周热卷价格或仍以弱稳运行为主。

In the future, the futures market will continue to be vacant and volatile, and after the settlement, the hot-roll price will still be weak and stable in the next week without the rise of demand.