本周杭州方管市場價格大幅下跌，本周一期貨呈大幅下跌態(tài)勢，全天下跌63點至3877，市場低價資源頻現(xiàn)，成交清淡，周二周三期螺基本穩(wěn)定，但受高溫天氣影響，下游需求較弱，現(xiàn) 貨價格基本穩(wěn)定，周四早盤成交清淡，盤中受期螺跌幅擴大影響，部分方管廠家為求出貨，報價混亂殺跌，低價資源頻現(xiàn)，低位成交并未出現(xiàn)好轉(zhuǎn)跡象。周五受周四夜盤 影響，價格大幅下跌30-50，低價資源頻出，低位成交尚可，方管廠家認(rèn)為正值需求淡季庫存壓力較大，方管廠家期待值不高，普遍以降庫存操作為主。

This week, Hangzhou Fangguan market prices fell sharply. On Monday, futures fell by 63 points to 3877 all over the world. Low-price resources in the market were frequent and trading was light. On Tuesday and Wednesday, snails were basically stable. However, due to the high temperature, downstream demand was weak and spot prices were basically stable. On Thursday, early trading was light and mid-trading was weak. The impact of snail declines has been widened. In order to get delivery, some square managers have made confused quotations, and low-price resources are frequent. There is no sign of improvement in low-level transactions. Affected by Thursday night market, prices fell by 30-50 sharply, low-price resources came out frequently, and low-level transactions were still acceptable. Square managers believed that inventory pressure was high in the off-season of positive demand, and Square managers'expectations were not high, which generally focused on inventory reduction. 消息面上，北京時間8月1日凌晨2點美聯(lián)儲如約降息，宣布降息25個基點，將聯(lián)邦基金利率目標(biāo)區(qū)間下調(diào)至2.00%-2.25%，這是美國10年 以來的首次降息。此次降息幅度符合市場預(yù)期，但這只是開始，未來可能會再次降息。另外限產(chǎn)方面，唐山8月限產(chǎn)釋放放松跡象后，武安邯鄲限產(chǎn)果然也是只限燒 結(jié)不限高爐，放松意圖顯而易見，由此聯(lián)想到后續(xù)可能會更松。

On the news, the Federal Reserve cut interest rates at 2:00 a.m. Beijing time on August 1, announcing a 25 basis point cut, lowering the target range of the federal funds rate to 2.00% - 2.25%, the first rate cut in 10 years in the United States. The rate cut is in line with market expectations, but it's only the beginning and may be cut again in the future. In addition, after the release of signs of relaxation of production restriction in Tangshan in August, the production restriction in Handan, Wu'an, was indeed limited to sintering of unlimited blast furnaces. The intention of relaxation was obvious, which might be more relaxed in the future.

庫存方面：本周杭州方管庫存83.3萬噸：較前期整體庫存增加0.88萬噸：線材4萬噸，螺紋鋼79.3萬噸

Inventory: Hangzhou square pipe inventory 833,000 tons this week: 0.88 million tons more than the previous overall inventory: 40,000 tons of wire rod, 793,000 tons of screw steel

目前方管市場處于淡季，市場在消息面利空集中爆發(fā)的氛圍下悲觀氣氛濃厚，貿(mào)易商心態(tài)較為謹(jǐn)慎，多以降低庫存操作，以求減小風(fēng)險。綜上所述，預(yù)計下周杭州方管市場價格或震蕩調(diào)整。

At present, the square management market is in the off-season, the market is pessimistic in the atmosphere of the concentrated outbreak of bad news, and traders are more cautious in order to reduce inventory operations in order to reduce risk. To sum up, it is expected that next week Hangzhou will adjust its market price or shock.

方管價格方面，截至8月2日，杭州方管批量成交指導(dǎo)價格：沙鋼 Φ8-10mm高線為4230元,比上周同期下跌80元，中天Φ12mm三級螺紋鋼為4030元，比上周同期下跌120元；中天Φ25mm三級螺鋼為 3870元，比上漲同期下跌120元。永鋼Φ8-10mm三級盤螺為4220，比上漲同期下跌80元。

As for square pipe price, as of August 2, Hangzhou square pipe volume trading guidance price: Shagang 8-10mm high line is 4230 yuan, 80 yuan lower than the same period last week, Zhongtian_12 mm three-stage threaded steel is 4030 yuan lower than the same period last week, 120 yuan lower than the same period last week; Zhongtian_25 mm three-stage screw steel is 3870 yuan, down 120 yuan from the same period of increase. Yonggang 8-10mm three-stage snail is 4220, down 80 yuan from the same period of increase.