国内焊管价格下行为主，监测数据显示，截至2月22日，国内十大重点城市4寸焊管均价为4170元 (吨价，下同)，比上周同期焊管价格下跌28元，中心城市其中唐山下调60元、天津下调50元、西安降30元、武汉降30元、广州降50元、成都降60 元，其他中心城市报价与上周持平。
Domestic welded pipe prices are mainly falling. Monitoring data show that as of February 22, the average price of 4-inch welded pipe in ten key cities in China is 4170 yuan (ton price, the same below), 28 yuan lower than the same period last week. Among the central cities, Tangshan is down 60 yuan, Tianjin is down 50 yuan, Xi'an is down 30 yuan, Wuhan is down 30 yuan, Guangzhou is down 50 yuan, Chengdu is down 60 yuan, and other central cities are down from last week. Ping. 原料方面
As for billet, Tangshan billet quoted 3430 yuan as of today, up 40 yuan from the same period last week. According to statistics, the stock of billets in Tangshan's main warehouses was about 657,000 tons on 22nd, an increase of 87,000 tons, or 15.3%, compared with the previous period (15 days). This week, the stock of billets increased slightly. With the gradual release of new demand next week, the short-term strength is still sufficient, and the price of billet fluctuates or slows down next week.
带钢方面，截至今日唐山热轧带钢(2.5*355mm)唐山瑞丰3600，较上周同期降20元。本周355系中宽带震荡运行。周初市场稳中调整， 由于下游开工恢复缓慢，需求端没有得到完全释放，各厂商采货积极性均不高，故整体成交清淡。北方更是受雪天影响，出货连连受阻，仅个别低位略有成交。下半 周市场小幅震荡为主，一旦期螺以及钢坯稍有提振便紧跟上涨，窄带交投偶显火爆，但中宽市场放量仍以低位资源为主。钢厂方面亦是为了避免亏损多坚挺报价，但 高位接受较为有限，商家观望情绪不减。目前，市场观望氛围渐显浓厚，操作上多随行就市，需求是否释放成为各贸易商的关注点。考虑短期内需求释放不足态势难 改，预计下周带钢价格或持续震荡调整为主。
As far as strip steel is concerned, Tangshan Ruifeng 3600 hot rolled strip steel (2.5*355mm) has dropped 20 yuan from the same period last week. This week, the broadband oscillation in the 355 system runs. At the beginning of the week, the market adjusted steadily. Because of the slow recovery of downstream construction, the demand side was not fully released, and the enthusiasm of each manufacturer was not high, so the overall turnover was light. The north is affected by the snow, shipments have been blocked, only a few low transactions. In the second half of the week, the market shook slightly. Once the snails and billets boosted slightly, they kept up with the rise. Narrow-band trading was booming occasionally, but the medium-wide market was still dominated by low-level resources. Steel mills also want to avoid losing money and offer firm prices, but high acceptance is relatively limited, business wait-and-see mood is not reduced. At present, the market wait-and-see atmosphere is becoming stronger and stronger, and the operation is more on the market. Whether the demand is released or not has become the focus of traders. Considering the shortage of demand release in the short term, it is expected that the adjustment of strip prices or continuous shocks will be dominant next week.
Pipe factory aspect
本周是开年后正式开工第二周，经过上周的明显反弹，利好兑现本周再次回归平静。津冀地区主流管厂从上周下半周陆续开工，从管厂的库存来看，目前管 厂库存压力较大，个别管厂元宵节停工一天缓解库存压力。截至2月21日，天津唐山邯郸主要管厂统计：本周(2.21)厂内原料带钢库存49.8万吨，比上 周降1.8万吨；焊管库存9.4万吨，比上周增2.1万吨；镀锌管库存21.5万吨，比上周增0.9万吨；日均成交量3.53万吨，市场刚刚启动成交偏 弱。从兰格网的调查来看，原料下降不多，成品材库存明显增加，而由于终端需求暂未启动，本周管厂整体成交不尽如人意，个别管厂调整出厂优惠政策，对成交稍 有带动。另外，邯郸地区地环保要求当地管厂产线全停，开工时间视天气情况而定，但由于管厂库存较大，此消息对市场影响有限。
This week is the second week after the start of the new year. After a significant rebound last week, we hope to return to calm again this week. Mainstream pipeline factories in Tianjin and Hebei started construction in the second half of last week. According to the inventory of the pipeline factories, the inventory pressure of the pipeline factories is relatively high at present. Some pipeline factories shut down for one day during Lantern Festival to alleviate the inventory pressure. As of February 21, Tianjin Tangshan Handan main pipe factory statistics: this week (21) 498,000 tons of raw material strip steel inventory, 18,000 tons lower than last week; 94,000 tons of welded pipe inventory, 21,000 tons higher than last week; 215,000 tons of galvanized pipe inventory, 09,000 tons higher than last week; daily average turnover of 35,300 tons, the market has just started trading weak. According to the survey of Lange Net, the decrease of raw materials is not much, and the inventory of finished products is obviously increased. However, due to the temporary failure of terminal demand, the overall turnover of pipe plants this week is unsatisfactory, and the preferential policies of individual pipe plants are adjusted to slightly promote the turnover. In addition, the environmental protection in Handan area requires the local pipeline factory to stop all production lines, starting time depends on weather conditions, but due to the large inventory of the pipeline factory, the news has limited impact on the market.
监测数据显示，截至2月22日，唐山友发产4寸(3.75)新国标焊管现金出厂价格为3830元，比上周同期下调20元；唐山京 华产4寸(3.75)新国标焊管现金出厂价格为3880元，比上周同期下调50元；吉立(正大)产4寸(3.75)新国标焊管现金出厂价格为3940元， 与上周同期持平。
Monitoring data show that as of February 22, Tangshan Youfa's cash ex-factory price of 4-inch (3.75) new GBW pipe was 3830 yuan, down 20 yuan from last week's same period; Tangshan Jinghua's cash ex-factory price of 4-inch (3.75) new GBW pipe was 3880 yuan, down 50 yuan from last week's same period; Jili's cash ex-factory price of 4-inch (3.75) new GBW pipe was 3940 yuan, which was the same as last week's.
本周，下游贸易商正式营业，个别贸易商元宵节后返市，市场上节日气氛渐消。价格不断下跌导致市场信心仍显不足，加上终端需求仍未释放，贸易商拿货 谨慎，操作补充协议量为主。从天气情况来看，本周华北地区雾霾严重，车辆有所限制；而华中及华南大部分地区阴雨连绵，严重影响市场的启动，整体市场成交均 弱。
This week, downstream traders officially opened, and individual traders returned to the market after the Lantern Festival. The festival atmosphere in the market gradually faded. Falling prices have led to insufficient confidence in the market, coupled with unreleased terminal demand, cautious traders, and the operation of supplementary agreements. In terms of weather conditions, this week's heavy fog and haze in North China caused some restrictions on vehicles, while the continuous rain in most parts of Central and South China seriously affected the start of the market, and the overall market turnover was weak.
Generally speaking, this week's welded pipe market is obviously oversupply of demand, and the price of air traffic control is on the rise. However, judging from the current state's relaxed monetary policy and the speed of approving capital construction projects, construction started this year or earlier than in previous years. With the release of demand, stocks will be rapidly digested. For the future market, the market is generally cautious and optimistic, or to maintain a strong operation next week.
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