本周北京方管市場價格弱勢下跌。截至8月30日，北京市螺線沙龍批量成交指導(dǎo)價 格：Φ8-10mm高線為4520元(噸價，下同)，比上周同期下跌80元。河北鋼鐵集團產(chǎn)Φ12mm三級抗震螺紋鋼為3730元，比上周同期下跌70 元；Φ25mm三級螺鋼為3600元，比上周同期下跌60元。近期中美貿(mào)易戰(zhàn)加劇、房地產(chǎn)利率新政以及唐山限產(chǎn)不及預(yù)期是市場加速下滑的主要影響因素。期貨市場震蕩調(diào)整為主，鋼坯價格先跌后小幅反彈。北京建 材市場價格弱勢下跌為主，天氣轉(zhuǎn)晴，月末資金壓力的影響下，方管廠家低價積極出貨為主，而下游采購力度不強，市場大戶日成交量在200-3000噸。近期鋼廠 到貨不多，北京方管庫存維持下降趨勢。

This week, Beijing Fangguan's market prices fell weakly. As of August 30, Beijing Spiral Salon bulk trading guidance price: 8-10mm high line is 4520 yuan (ton price, the same below), down 80 yuan from the same period last week. Hebei Iron and Steel Group produced 12mm three-stage aseismic threaded steel for 3730 yuan, down 70 yuan from the same period last week; 25mm three-stage screw steel for 3600 yuan, down 60 yuan from the same period last week. The recent intensification of Sino-US trade war, the new real estate interest rate policy and the unexpected production restriction in Tangshan are the main factors affecting the accelerated decline of the market. Futures market shocks are mainly adjusted, billet prices fell first and then rebounded slightly. Influenced by the pressure of funds at the end of the month and the weather clearing up, the price of building materials market in Beijing is mainly weak, while the purchasing power downstream is not strong. The daily turnover of large market households is 200-3000 tons. In recent years, steel mills have not received much goods, and Beijing square tube inventory has maintained a downward trend. 宏觀方面，風(fēng)險事件不斷，中美貿(mào)易戰(zhàn)加劇、房地產(chǎn)利率新政以及唐山限產(chǎn)不及預(yù)期等，市場弱勢走低。在國內(nèi)外宏觀因素支撐較弱的情況下，市場供需端 的變化對市場影響增大，在未來限產(chǎn)再度放松的情況下，來自供給端的預(yù)期再度破滅，疊加需求端短期內(nèi)難以有壓倒性的反轉(zhuǎn)，市場情緒產(chǎn)生波動，資本市場風(fēng)險偏 好發(fā)生改變，整體市場呈現(xiàn)連續(xù)下破的行情。

On the macro level, with the increasing risk incidents, the intensification of the Sino-US trade war, the new real estate interest rate policy and the unexpected production restriction in Tangshan, the market is weak. In the case of weak support from macro-factors at home and abroad, changes in the supply and demand side of the market have an increasing impact on the market. In the case of further relaxation of production restrictions, expectations from the supply side are once again shattered, it is difficult to overwhelmingly reverse the overlapping demand side in the short term, market sentiment fluctuates, and capital market risk preferences change. The overall market showed a continuous decline.

目前來看，整體市場正在呈現(xiàn)震蕩筑底的態(tài)勢，在利空出盡的情況下，市場在沒有連續(xù)大的利空情況下，持續(xù)調(diào)整的空間已然不是很大，甚至可能會出現(xiàn)反 彈的行情，月末資金回籠壓力解除后，月初鋼廠到貨不多的情況下，市場有反彈的預(yù)期，預(yù)計下周北京方管市場價格將小幅波動的態(tài)勢。

At present, the overall market is showing a shocky bottom-building situation. In the absence of a continuous large shortfall, the market has not much room for continuous adjustment, or even a rebound in the market. After the end of the month, the pressure of fund return is relieved, and the steel mill arrives at the beginning of the month with a small amount of goods. The market is expected to rebound. It is expected that the price of Beijing Square Management Market will fluctuate slightly next week.