广州方管市场价格整体表现为小幅偏强震荡趋势，市场成交情况逐渐有所收缩。期货方面本周表现为先强后弱截至到今日期螺宽幅下行收跌；原材料方面现昌黎普碳方坯含税出厂3360元/ 吨，本周钢坯走势基本处于上行通道。从现货市场来看，周一随着期货的大幅拉涨广州当地方管成交明显转好，方管厂家纷纷上调报价，午后市场投机锁货需求也快 速上升，当地钢厂报价也小幅拉涨，整体市场成交较为火爆。然周二开始，即使期货、钢坯依然表现为继续拉涨飘红走势，但现货市场表现明显乏力，价格主流维稳 为主，方管厂家出货情况也明显萎缩。截止到周五，广州市场方管价格偏弱震荡，方管厂家出货量进一步减少。整体来看，本周广州市场仅周一当天出货有明显放量，周 二开始方管厂家成交便萎缩30%-40%，后半周成交量一直延续低位，且考虑到本阶段当地需求依然较弱但北材供给到货明显增加，现货价格上“易跌难涨”，高位 资源成交明显受阻，目前方管厂家心态也相对谨慎，积极出货为主。

Guangzhou square tube market prices as a whole show a small strong shock trend, market transactions gradually contracted. Futures this week showed strong and weak until today's snail wide downward decline; raw materials are now Changli Pu carbon billet factory tax 3360 yuan / ton, this week billet trend is basically in the upstream channel. From the spot market point of view, with the sharp rise of futures in Guangzhou on Monday, local tube transactions have improved significantly, local tube manufacturers have increased their quotations, the market demand for speculative lock-up in the afternoon has also risen rapidly, local steel plant quotations have also increased slightly, and the overall market turnover is relatively hot. However, starting Tuesday, even though futures and billets continue to show a trend of rising and flushing red, the spot market is obviously weak, the price mainstream is stable, and the shipment situation of square tube manufacturers is also significantly shrinking. As of Friday, Guangzhou market square tube prices were weak and shocky, and square tube manufacturers'shipments were further reduced. Overall, shipment volume in Guangzhou market this week is obvious on Monday only. Since Tuesday, the volume of square tube manufacturers has shrunk by 30%-40%. In the latter half of the week, the volume has continued to be low. Considering that local demand is still weak at this stage, but the supply of North Material has increased significantly, spot prices are "easy to fall but difficult to rise", and the transaction of high-level resources has been completed. Obviously hindered, at present the party manages the manufacturer's mentality is also relatively cautious, active shipment is the main. 库存方面本周广州方管库存开始止跌回涨，据9月4日统计数据显示，现广州方管市场库存总量86.15万吨，环比上周增4.09%。本周增 库资源多为盘线，螺纹库存相对稳定，且库内螺纹多为生锈资源部分规格相对紧缺，突发广西环保限产也一定程度上影响厂内库存。消息面上近两日传出9月降准预 期以及中美重启磋商谈判，且昨日金融委会议再次重申强调加大逆周期调节，另外根据商务部表示后期或适时出台支持汽车贸易的政策；种种消息来看都属于宏观政 策利好，但从近两日的期货盘面来看，黑色系的走势明显冷静得多，并没有得到多大提振拉涨，从侧面也反映出了整个市场对后市起码没有那么的乐观。综上所述， 预计下周广州方管价格或小幅震荡维稳运行。

Inventory in Guangzhou began to stop falling and rebound this week. According to the statistics of September 4, the total inventory in Guangzhou square management market is 861,500 tons, an increase of 4.09% compared with last week. This week, most of the additional storage resources are winding, the thread inventory is relatively stable, and most of the internal threads are rusty resources, some specifications are relatively scarce. The sudden production restriction of environmental protection in Guangxi also affects the factory inventory to a certain extent. In recent two days, there are expectations of September benchmark reduction and resumption of negotiations between China and the United States. Yesterday's meeting of the Financial Committee reiterated the emphasis on increasing counter-cyclical regulation. In addition, according to the Ministry of Commerce's statement that late or timely policies to support automobile trade have been issued. All kinds of news are good macro policies, but from the futures market of the past two days. On the one hand, the trend of the black department is obviously much calmer, and it has not been much boosted. From the side, it also reflects that the whole market is not so optimistic about the future market at least. To sum up, it is expected that Guangzhou Square Tube Price or small fluctuations will maintain stable operation next week.