The flow properties of aggregating red cell suspensions flowing at low rates through vertical tubes with diameters from 30 microns to 150 microns are analyzed using a theoretical model. Unidirectional flow is assumed, and the distributions of velocity and red cell concentration are assumed to be axisymmetric. A three-layer approximation is used for the distribution of red cells, with a cylindrical central core of aggregated red cells moving with uniform velocity, a cell-free marginal layer near the tube wall, and an annular region located between the core and the marginal layer containing suspended non-aggregating red cells. This suspension is assumed to behave approximately as a Newtonian fluid whose viscosity increases exponentially with red cell concentration. Physical arguments concerning the mechanics of red cell attachment to, and detachment from the aggregated core lead to a kinetic equation for core formation. From this kinetic equation and the equation for conservation of red cell volume flux, a relationship between core radius and pressure gradient is obtained. Then the relative viscosity is calculated as a function of pseudo-shear rate. At low flow rates, it is shown that the relative viscosity decreases with decreasing flow and that the dependence of relative viscosity on shear rates is more pronounced in larger tubes. It is also found that the relative viscosity decreases with increasing aggregation tendency of suspension. These theoretical predictions are in good qualitative and quantitative agreement with experimental results.