本周北京方管市場價格小幅下跌。月底市場消息面錯綜變化，唐山限產(chǎn)雖然延長，但限產(chǎn)力度要低于7月份。同時，市場期待的新一輪中美貿(mào)易談判在上海結(jié)束，暫時沒有新的信號進展，而 美聯(lián)儲降息25個百分點，期貨市場震蕩下跌，鋼坯價格小幅回落，北京方管市場價格弱勢下行。近期鋼廠到貨較多，市場資源得到補充；高溫雨季的影響下， 下游采購力度減弱，市場大戶日成交量在100-1500噸。在需求減弱的情況下，北京方管庫存有小幅上升。

Prices in Beijing's Fangguan market fell slightly this week. At the end of the month, the market news is complicated. Although the production limit in Tangshan has been extended, its productivity is lower than that in July. At the same time, the expected new round of Sino-US trade negotiations ended in Shanghai. There was no new signal for the time being. The Federal Reserve cut interest rates by 25 percentage points, futures market tumbled, billet prices fell slightly, and Beijing Fangguan market prices fell weakly. In recent years, steel mills have more arrivals and market resources have been supplemented. Under the influence of high temperature and rainy season, downstream purchasing efforts have been weakened, and the daily turnover of large market households is 100-1500 tons. In the case of weakening demand, the inventory of Beijing Square Management has increased slightly. 國內(nèi)宏觀數(shù)據(jù)方面，國家統(tǒng)計局服務(wù)業(yè)調(diào)查中心和中國物流與采購聯(lián)合會發(fā)布了數(shù)據(jù)顯示，7月份，中國制造業(yè)PMI為49.7%，比上月提高0.3個百分點，為4月份以來首現(xiàn)回升，表明國內(nèi)經(jīng)濟景氣度緩中趨穩(wěn)，但目前仍然處于臨界點以下，經(jīng)濟壓力仍然存在。

In terms of domestic macro-data, the service industry survey center of the National Bureau of Statistics and the China Logistics and Purchasing Federation released data showing that in July, the PMI of China's manufacturing industry was 49.7%, 0.3 percentage points higher than that of last month, the first rebound since April, indicating that the domestic economic prosperity is slowing down and stabilizing, but it is still at a critical point. Next, economic pressures remain.

環(huán)保預期卻在減弱。一是唐山燜爐已經(jīng)結(jié)束;二是，8月份新一期大氣污染防治管控初步方案公布，燒結(jié)限產(chǎn)在20-50%左右。據(jù)測算，在不考慮燒結(jié) 機限產(chǎn)對鐵水產(chǎn)量影響的情況下，高爐限產(chǎn)影響鐵水量約為6萬噸/天，較7月均值少9萬噸/天，限產(chǎn)趨弱態(tài)勢明顯。疊加超低排放達到A級企業(yè)冬季可不限產(chǎn)或 停產(chǎn)等產(chǎn)業(yè)消息，被市場解讀為利空。

Environmental expectations are weakening. First, Tangshan baking furnace is over; second, a new preliminary plan for air pollution control and control was announced in August, with a sintering production limit of about 20-50%. It is estimated that, without considering the influence of sintering machine production restriction on hot metal production, the hot metal production restriction of blast furnace is about 60,000 tons per day, which is 90,000 tons less than the average in July, and the trend of production restriction is obvious. Superposition of ultra-low emissions to A-level enterprises in winter may limit production or stop production and other industrial news, the market interpreted as negative.

美聯(lián)儲利率決議將降息25百分點，期貨市場出現(xiàn)大幅震蕩下行。隨著70周年大慶的來臨，8月份北京部分工地將停工，對市場需求有影響?？偠唐趤?看，國內(nèi)方管市場在季節(jié)性需求尚未完全兌現(xiàn)的情況下，消息端對市場的影響仍然占據(jù)主要因素，方管市場反復震蕩的格局仍然未變，預計下周北京方管市場價格將呈弱勢調(diào) 整的態(tài)勢。

The Federal Reserve's interest rate resolution will cut interest rates by 25 percentage points, and the futures market has experienced a sharp downward swing. With the coming of the 70th anniversary celebration, some construction sites in Beijing will be shut down in August, which has an impact on market demand. Overall, in the short term, when the seasonal demand has not been fully fulfilled, the influence of news sources on the market is still the main factor, and the pattern of repeated shocks in the market remains unchanged. It is expected that the price of Beijing's market will be weakly adjusted next week.

方管價格方面，截至8月2日，北京市螺線沙龍批量成交指導價 格：Φ8-10mm高線為4760元(噸價，下同)，比上周同期下跌40元。河北鋼鐵集團產(chǎn)Φ12mm三級抗震螺紋鋼為4060元，比上周同期下跌60 元；Φ25mm三級螺鋼為3930元，比上周同期下跌20元。

As for the square pipe price, as of August 2, the guiding price for volume trading of Beijing spiral salon was 4,760 yuan (ton price, the same below) for the 8-10 mm high line, down 40 yuan from the same period last week. Hebei Iron and Steel Group's production of 12mm three-stage aseismic screw steel is 4060 yuan, down 60 yuan from the same period last week; 25mm three-stage screw steel is 3930 yuan, down 20 yuan from the same period last week.