本周各重磅消息纷纷落地，期现操作谨慎，而今周五期螺下杀超百点，回到了3820上方；镀锌方管管厂价格由横盘观望转而随行 走弱，市场表现迷茫，操作相对滞后。截至8月2日，济南市场友发4寸(3.75mm)方管价格4260元(吨价，下同)， 泰安市场友发4寸(3.75mm)方管价格4180元，青岛市场友发4寸(3.5mm)镀锌管价格5000，潍坊市场利达4寸(3.5mm)镀锌管价格 5120元(吨价，下同)，比上周同期方管价格下跌0-50元。

This week's heavy news came to the ground one after another, with cautious operation, but this Friday's snail killing more than 100 points, returning to above 3820; galvanized square pipe factory prices from the sideways watch to follow the weak, market performance is confused, operation is relatively lagging behind. As of August 2, Youfa 4-inch (3.75mm) square pipe price in Jinan market was 4260 yuan (ton price, the same below), Youfa 4-inch (3.75mm) square pipe price in Taian market was 4180 yuan, Youfa 4-inch (3.5mm) galvanized pipe price in Qingdao market was 5000 yuan, Weifang market profit was 4-inch (3.5mm) galvanized pipe price was 5120 yuan (ton price, the same below), which was 0-50 yuan lower than the same period last week. Yuan. 原料方面

Raw materials

临近月底，方管厂家多以出货为主，而周内轧钢厂复产并没有给唐山钢坯的需求带来很大的提涨，价格既无大涨也无大跌，2日午后唐山、昌黎迁安钢坯稳，现 普碳方坯含税出厂3620，较上周累计下调20元；145mm系列带钢陆续复产接单，部分原计划生产企业尚未复产开工率40.9%，较上周上涨 4.54%，相对紧缺；355系中宽带报价现货裸价主流现货3520-3560，期货3520-3530元左右，较上周累计下调60-90元，今周五宏观 因素影响调整幅度较大，午盘市场恐慌情绪回归平稳。

Towards the end of the month, square tube manufacturers mostly focus on shipment, while the re-production of rolling mills within the week has not brought a great increase in the demand for Tangshan billets, and the price has neither risen nor fallen sharply. Tangshan and Changli Qian'an billets were stable in the afternoon of the 2nd day, and now ordinary carbon billets are taxed out of the factory 3620 yuan, down 20 yuan from last week; 145mm series of strips have been re-produced one after another. Some planned production enterprises have yet to resume production with a 40.9% start-up rate, up 4.54% from last week, which is relatively scarce; 355 system broadband quotation spot bare price mainstream spot 3520-3560, futures 3520-3530 yuan or so, down 60-90 yuan from last week, macro factors have a greater impact on adjustment this Friday, panic returned to the midday market. Smooth.

镀锌方管市场方面

Market Aspects of Galvanized Square Pipe

本周(8.1)天津邯郸唐山主导管厂厂内原料带钢库存29.37万吨，比上周同期减0.08万吨；方管库存8.59万吨，比上周增0.04万吨； 镀锌管库存14.77万吨，比上周同期增0.99万吨；日均成交量4.76万吨，比上周同期降0.03万吨；价格累计下调30-120元不等，操作分歧。 山东地区资源多来自唐山、天津、邯郸等地，在上游执行环保限产政策之际，市场报价多随行变动，8月限产文件没有下达，盼涨但成交弱。库存方面，济南市场焊 镀管在统计贸易资源1.48万吨，周比增8.82%；泰安市场镀锌方管在统计贸易资源1.60万吨，周比增2.56%。

This week (8.1) Tianjin Handan Tangshan Leading Pipe Factory has a stock of 293,700 tons of raw material strip steel, a decrease of 0.08 million tons over the same period last week; square pipe inventory of 859,900 tons, an increase of 0.04 million tons over the previous week; galvanized pipe inventory of 147,700 tons, an increase of 0.99 million tons over the same period last week; daily turnover of 476,600 tons, a decrease of 0.03 million tons over the same period last week; and the price of galvanized pipes has been reduced by 30,000 tons. 0-120 yuan, different operation. Shandong's resources are mostly from Tangshan, Tianjin, Handan and other places. When implementing the policy of environmental production restriction in the upstream, the market quotation changes with time. The production restriction document in August has not been issued, and the expectation is rising but the transaction is weak. In terms of inventory, there are 14.8 million tons of statistical trade resources for welded and galvanized pipes in Jinan market, an increase of 8.82% per week; 16 million tons of statistical trade resources for galvanized square pipes in Taian market, an increase of 2.56% per week.

另宏观方面，美国总统特朗普1日下午通过社交媒体表示,美国将从今年9月1日起,对从中国进口的3000亿美元商品加征10%的关税。

On the other hand, US President Trump said through social media on the afternoon of September 1 that the US would impose a 10% tariff on 300 billion US dollars imported from China from September 1 this year.

8月份新一期大气污染防治管控初步方案公布，烧结限产在20-50%左右。

In August, a new preliminary plan for air pollution control and control was announced, and the sintering production limit was about 20-50%.

突发消息对期现基本面考验，供应不减但淡季市场需求未达预期，而笔者对于焦炭原料支撑尚存预期，下周谨慎操作的情绪或将延续，山东地区镀锌方管市场去库存效果不明显，新一期协议订单多分批建仓，价格继续承压。

The unexpected news has tested the fundamentals of the period, the supply has not decreased, but the demand of the off-season market has not reached expectations. However, the author still has expectations for the support of coke raw materials. Next week, the mood of prudent operation may continue. The effect of de-stocking in Shandong galvanized square pipe market is not obvious. The new phase of agreement orders are multi-batch warehousing, and prices continue to bear pressure.