25日方管价格窄幅调整，今日145小窄方管持稳运行，主流厂家报3900元/吨，整体市场成交一般。今日期货市场持续高位震荡运行，午后盘高开 高走，尽管今日唐山普方坯市场上涨20元/吨，但是小窄带市场高价成交低迷，下游商家观望意图明显，小窄带市场受原料，加工等成本因素影响承压运行，在今 日交投较弱的情形下盘中仍没有降价，挺价底气明显增强；唐山355方管主流较昨涨10，中宽带较昨持稳，355系中宽带现货市场报价较昨日涨10-20， 今期螺震荡持红，商家逢高出货为主，但需求明显不足，交投偏弱。唐山限产严查26-28日要求钢企全部停产，钢厂挺价意愿强烈，现货方管厂家多上调报价；届 时市场资源也会有较大影响，方管厂家亦心态有支撑；华东华南地区今日方管价格多持稳运行，商家心态面多坚挺观望，部分小幅拉涨10，但鉴于需求端不佳，多数 仍以稳为主。据方管厂家反馈，市场交投氛围依旧清淡，下游用户操作情绪不高，需求释放跟进缓慢。目前市场环保炒作支撑商家心态，加之库存多是低位，方管厂家观 望心理明显。综合来看，预计明日国内方管价格或窄幅趋弱运行。

The price of Japanese tube has been narrowly adjusted on the 25th. Today 145 small tube has been running steadily. The mainstream manufacturer has reported 3900 yuan/ton. The overall market turnover is general. Today's futures market continues to oscillate at a high level, opening high in the afternoon. Despite the 20 yuan/ton rise in Tangshan's ordinary billet market today, the high-price transaction in the small narrow-band market is depressed. The downstream merchants have obvious intention to wait and see. The small narrow-band market is pressured by cost factors such as raw materials and processing. Today's trading is weak. The main stream of Tangshan 355 square tubes rose 10% compared with yesterday, broadband broadband was stable compared with yesterday, broadband spot market quotation in 355 series was 10-20 higher than yesterday, the current concussion was red, the merchants were mainly in high shipments, but the demand was obviously insufficient and the delivery was weak. Tangshan 26-28 strict inspection of production restrictions demanded that all steel enterprises stop production, steel mills have strong willingness to bid, spot managers will increase their quotations; then market resources will have a greater impact, square managers will also have a mentality support; East and South China today square managers prices are more stable operation, business mentality is more firm and wait-and-see, some slightly increased by 10%. However, in view of the poor demand side, most of them are still stable. According to the feedback from the manufacturer, the trading atmosphere in the market is still light, the downstream user's operating mood is not high, and the demand release follow-up is slow. At present, environmental hype in the market supports the mentality of businessmen. In addition, the inventory is mostly low, so it is obvious that the manufacturers are in charge of waiting and seeing. Generally speaking, it is expected that the price of domestic domestic domestic management will be weakening or narrowing tomorrow.

方管价格方面：唐山热轧方管(2.5*355mm)唐山瑞丰3910较昨日涨10；天津热轧方管 4.0*(480-570)天津荣钢3950较昨稳；无锡热轧方管（2.5*355mm）中天4000较昨日稳，莱芜热轧方管2.5*（232-355） 莱钢3910较昨日稳，唐山热轧小窄带报3900较昨稳。

The square pipe price: Tangshan hot-rolled square pipe (2.5*355mm) Tangshan Ruifeng 3910 rose 10% compared with yesterday; Tianjin hot-rolled square pipe 4.0* (480-570) Tianjin Ronggang 3950 was stable compared with yesterday; Wuxi hot-rolled square pipe (2.5*355mm) in the day 4000 was stable compared with yesterday, Laiwu hot-rolled square pipe 2.5* (232-355) Laiwu hot-rolled square pipe 3910 was stable compared with yesterday, and Tangshan hot-rolled small strip 3900 was stable compared with yesterday. 。