PRECIOUS METALS | Shanghai Silver Jumps Over 7% as China Futures Open Mixed

China’s major domestic futures contracts opened mixed in early trading, with precious metals leading gains and energy-related contracts posting sharp declines. According to Jin10, Shanghai silver rose more than 7%, while Shanghai gold and Shanghai tin gained more than 3%. Coke climbed more than 2%. Glass and Shanghai zinc rose nearly 2%, while soda ash and rubber increased more than 1%. On the downside, SC crude oil fell more than 7%. Fuel oil dropped nearly 7%, liquefied petroleum gas (LPG) declined more than 6%, and low-sulfur fuel oil (LU) slid more than 5%. Asphalt and styrene (EB) fell more than 2%, ethylene glycol (EG) slipped nearly 2%, and polypropylene declined more than 1%.