本周广州方管市场价格持续下降，市场成交不及预期；期货、钢坯也双双呈现震荡下跌行情。本周周初受当地天气影响，下游采购 需求有所减弱，成交偏差；后期期货钢坯的持续走弱也一定程度上影响现货市场心态，在供求关系紧张市场又无利好消息刺激的情况下，现货价格弱势震荡下行难以 支撑维稳；另一方面本周又临近月末，方管厂家难免出于资金结算、协议量的压力而选择低价让利跑量，因此本周广州现货市场报价持续下跌，成交也有所减弱。截至今 日广州方管市场主流降20-30元，原材料方面昌黎钢坯午后降40现普碳方坯含税出厂3560。

This week, Guangzhou square tube market prices continued to decline, market turnover was not as expected; futures, billets also showed a concussive downward trend. Influenced by local weather at the beginning of this week, downstream purchasing demand has weakened and trading deviation. The continued weakening of futures billets in the later period also affects the spot market mentality to a certain extent. Under the circumstances of tight supply and demand market and no good news stimulation, the weak spot price fluctuation is difficult to sustain stability. On the other hand, near the end of this week, merchants will inevitably settle out of funds. Due to the pressure of agreement volume and the choice of low price to let the profit run, the quotation in Guangzhou spot market continued to fall this week, and the turnover also weakened. Up to now, the mainstream of Guangzhou square pipe market has fallen by 20-30 yuan. In terms of raw materials, Changli steel billet has fallen by 40 in the afternoon. Now the ordinary carbon billet has been discharged from the factory with tax of 3560.

本周广州方管库存降速明显放缓；据29日统计数据显示，现广州方管市场库存总量127.43万吨，环比上周降5.18%，同比 去年涨3.18%。虽然市场表示本周出货有所减弱，但目前广州当地下游的建设投资项目在持续审批开展中；据了解仅广州南沙区就计划年内完成投资5770亿 元，主要项目包括轨道交通、高速快路、基础设施等。这些“钢”需及高位的成本支撑着当地价格不会大幅下降，目前影响市场利空的因素主要还是外部风险及内部 经济转型升级带来的宏观经济下滑压力以及当地雨季积水天气对下游工地需求释放的抑制，总体来说刚性需求依然还是维持在高位水平。目前央行在积极、努力疏通 货币传导机制，让释放出来的资金实实在在的流向民营企业，流向制造业。虽然外部环境风险变大，但是国内经济还是有信心“稳得住”，再依托“粤港澳大湾区” 国家级战略规划建设，当地需求不会出现所谓的“淡季”，后市钢材消化能力依然强劲。综上所述，预计下周广州当地方管价格或小幅盘整维稳运行。

This week, Guangzhou Square Pipe Inventory slowed down significantly. According to the statistics of 29 days, the total inventory of Guangzhou Square Pipe Market is 1.2743 million tons, down 5.18% from last week, up 3.18% from last year. Although the market said that shipments weakened this week, construction investment projects in downstream Guangzhou are under continuous approval. It is understood that only Nansha District of Guangzhou will complete the planned investment of 577 billion yuan in the year, including rail transit, expressway, infrastructure and other major projects. These "steel" demand and high cost support the local price will not decline significantly. At present, the main factors affecting market negative are external risks and macroeconomic downward pressure brought by internal economic transformation and upgrading, as well as the local rainy season water weather restraining the release of demand for downstream construction sites. Overall, rigid demand remains at a high level. At present, the central bank is actively and diligently dredging the monetary transmission mechanism so that the released funds actually flow to private enterprises and manufacturing industries. Although the risk of external environment has become greater, the domestic economy is confident that it will be "stable", and relying on the national strategic planning and construction of "Guangdong, Hong Kong and Macao Dawan District", the local demand will not appear the so-called "off season", and the steel digestibility in the future is still strong. To sum up, it is expected that Guangzhou local management prices or small consolidation will be stable next week.