20日国内方管多数持稳运行，今日国内方管主稳个涨。今日145小方管开盘较昨涨20元/吨，主流厂家报3800元/吨，个别方管厂家资源被秒抢，整体市场成交偏弱。今日期货市场 持续高位持红运行。唐山普方坯市场开盘上涨，受其影响承压上行，但下游商家恐高情绪较浓，观望意图明显，因此多数企业涨后回落，今日午后期螺走高，挺价底 气明显增强，部分企业再次回涨。唐山355方管主流持稳，本周唐山方管轧线，部分复产，开工率有所上升，但上周个别轧线仅检修几天，并于近日复产，上周整 体产能利用率有所下降。目前唐山方管与唐山热卷价格倒挂加剧，部分热卷资源抢占方管市场下游。加之方管长期南下受阻，短期方管依旧承压。但受原料价格坚挺 影响，方管成本支撑强劲，加之下游开工情况尚可，社会库存小幅下降，供需矛盾稍有缓和；华东华南地区今日方管价格主稳个涨，市场成交整体平平，商家普遍心 态面尚可。从市场了解到，本地库存资源整体低位，加之淡季效应使然，需求表现偏弱，整体供需两弱难改。目前方管厂家手中多为前期老货，很少有囤货操作，基本 都是规避风险以出货为主。考虑到目前需求端依然偏弱，预计明天方管价格或将高温盘整运行。

On the 20th, most of the domestic managers have been operating steadily, and today the domestic managers have risen steadily. Today, 145 small square pipes opened 20 yuan/ton higher than yesterday, the mainstream manufacturers reported 3800 yuan/ton, individual square pipes manufacturer resources were stolen, the overall market turnover is weak. Today's futures market continues to operate at a high level. Tangshan's general billet market started to rise and was affected by it. However, downstream businessmen were afraid of high spirits and had obvious intention to wait and see. Therefore, most of the enterprises fell after the rise. In the late afternoon of today, the spiral went up, the underpriced gas increased significantly, and some of them rose again. The mainstream of 355 square pipes in Tangshan has been stable. This week, some of the rolling lines in Tangshan have been restarted, and the start-up rate has increased. However, last week, individual rolling lines were repaired for only a few days and restarted in recent days, and the overall productivity utilization rate decreased last week. At present, the price inversion between Tangshan Fangguan and Tangshan Hot Coil has intensified, and some hot coil resources have seized the downstream market of Fangguan. In addition, the long-term southward obstruction of the square pipe, the short-term square pipe is still under pressure. However, due to the strong price of raw materials, the support of square tube cost is strong, the construction situation downstream is still acceptable, the social inventory has decreased slightly, and the contradiction between supply and demand has eased slightly. In East and South China today, square tube price is rising steadily, the market turnover is flat as a whole, and the general mentality of businessmen is still acceptable. From the market, we know that the overall low level of local inventory resources, combined with the off-season effect, demand performance is weak, and the overall supply and demand weakness is difficult to change. At present, the manufacturer under the control of the party is mostly in the hands of pre-old goods, and there are few hoarding operations. Basically, the main way to avoid risks is to ship goods. Considering that the demand side is still weak at present, it is anticipated that the price of square tube will be reorganized and operated at high temperature tomorrow.

方管价格方面：唐山热轧方管(2.5*355mm)唐山瑞丰3720较昨稳；天津热轧方管 4.0*(480-570)天津荣钢3760较昨涨10；无锡热轧方管（2.5*355mm）中天3840涨20，莱芜热轧方管2.5* （232-355）莱钢3800涨10。

In terms of square pipe price, Tangshan hot-rolled square pipe (2.5*355mm) Tangshan Ruifeng 3720 was more stable than yesterday; Tianjin hot-rolled square pipe 4.0* (480-570) Tianjin Ronggang 3760 was 10% higher than yesterday; Wuxi hot-rolled square pipe (2.5*355mm) rose by 20 in 3840 days, Laiwu hot-rolled square pipe 2.5* (232-355) Laiwu hot-rolled square pipe 3800 by 10%.