本周廣州方管市場價格持續下降，市場成交不及預期；期貨、鋼坯也雙雙呈現震蕩下跌行情。本周周初受當地天氣影響，下游采購 需求有所減弱，成交偏差；后期期貨鋼坯的持續走弱也一定程度上影響現貨市場心態，在供求關系緊張市場又無利好消息刺激的情況下，現貨價格弱勢震蕩下行難以 支撐維穩；另一方面本周又臨近月末，方管廠家難免出于資金結算、協議量的壓力而選擇低價讓利跑量，因此本周廣州現貨市場報價持續下跌，成交也有所減弱。截至今 日廣州方管市場主流降20-30元，原材料方面昌黎鋼坯午后降40現普碳方坯含稅出廠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.

本周廣州方管庫存降速明顯放緩；據29日統計數據顯示，現廣州方管市場庫存總量127.43萬噸，環比上周降5.18%，同比 去年漲3.18%。雖然市場表示本周出貨有所減弱，但目前廣州當地下游的建設投資項目在持續審批開展中；據了解僅廣州南沙區就計劃年內完成投資5770億 元，主要項目包括軌道交通、高速快路、基礎設施等。這些“鋼”需及高位的成本支撐著當地價格不會大幅下降，目前影響市場利空的因素主要還是外部風險及內部 經濟轉型升級帶來的宏觀經濟下滑壓力以及當地雨季積水天氣對下游工地需求釋放的抑制，總體來說剛性需求依然還是維持在高位水平。目前央行在積極、努力疏通 貨幣傳導機制，讓釋放出來的資金實實在在的流向民營企業，流向制造業。雖然外部環境風險變大，但是國內經濟還是有信心“穩得住”，再依托“粵港澳大灣區” 國家級戰略規劃建設，當地需求不會出現所謂的“淡季”，后市鋼材消化能力依然強勁。綜上所述，預計下周廣州當地方管價格或小幅盤整維穩運行。

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.