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📅 2026-10-20 · Algo brief · 19:00 ET (prev day)

This report is provided by MacroTerms.com

Data as of: 2026-10-20 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)
Generated: 2026-10-20 07:38:51 · Benchmark settle: 2026-10-16
Body, Best Trade and charts share the same settlement snapshot; intraday live prices are not part of conclusions

[Morning Brief] Commodity Market Under Pressure and Diverging, Shorts Dominate Black and Nonferrous Metals: 2026-10-20

Longs actively exiting combined with shorts adding positions; coking coal main contract settled at 1441, down 5.55% on the day and breaking below the lower band. In the next session, if it breaks below pivot S1 at 1370.67, look lower to 1340; if it holds above 1425.33, the bearish view is invalidated. Fundamentals demand suppression and international discount transmission; SHFE aluminum settled at 23015, down 0.93% on the day and approaching the lower edge of the range. In the next session, if it breaks below pivot S1 at 22891.67, look lower to 22500; if it recovers above 23076.67, the view is invalidated. USD high-range fluctuation and post-holiday position adjustment; SHFE gold open-interest growth slowed, night session closed at 895.22. In the next session, if it breaks below S1 support at 897.57, it will test the prior low of 881.82; if it holds above 906.75, the view is invalidated.

数据延迟

Some market data was unavailable at publish time; figures may be incomplete.

Single-name briefs Deep dive

SHFE GoldSHFE.AU 2026-10-20
Shanghai Gold (AU2612) In-Depth Analysis Report | Slightly Bullish: Rising on Reduced Open Interest Awaits Confirmation, 906.75 Is Key | 2026-10-20
LONGdaily-briefdivergentrevised
Deep diveRead
SHFE SilverSHFE.AG 2026-10-09
Shanghai Silver (SHFE.AG) In-Depth Analysis Report | Bears in Control, Below 14745 Target 14220 | 2026-10-09
SHORTneutral_contextrevisedLegacy coverage
Deep diveRead
SHFE CopperSHFE.CU 2026-10-20
SHFE Copper (CU2611) In-Depth Analysis Report | Slightly Bullish: Destocking Plus Short Covering | 2026-10-20
LONGneutral_context
Deep diveRead
RebarSHFE.RB 2026-10-20
Rebar (RB2701) In-depth Analysis Report | Bearish bias: rising open interest with price decline, inventory shifting upward | 2026-10-20
SHORTneutral_context
Deep diveRead
AppleCZCE.AP 2026-10-20
CZCE.AP(AP2701) In-depth Analysis Report | Bearish: Position increase breaks support, shorts active | 2026-10-20
SHORTno_house_view
Deep diveRead
SilicomanganeseCZCE.SM 2026-10-20
CZCE Ferrosilicon Main Continuous (CZCE.SM) In-depth Analysis Report | Slightly bearish: declining on reduced open interest, resistance at 5870 | 2026-10-20
SHORTno_house_view
Deep diveRead
Iron OreDCE.I 2026-10-20
Iron Ore (I2701) In-Depth Analysis Report | Short-covering rebound, treat as bullish | 2026-10-20
LONGneutral_context
Deep diveRead
EggsDCE.JD 2026-10-20
DCE Eggs Main Continuous (DCE.JD) In-Depth Analysis Report | Bearish Bias: Position-Reduced Decline in Near-20-Day Low Zone | 2026-10-20
SHORTno_house_view
Deep diveRead

Previous briefs

2026-10-23:Intl dailyCommodities Pre-Open | 2026-10-23 View 2026-10-23:China daily2026-10-23 Morning Report: Shanghai copper net shorts increase, Shanghai nickel longs continue to add positions View 2026-10-22:Intl dailyPre-Open Brief 2026-10-22 — WTI settles 97.71 (-4.01%) View 2026-10-22:China daily2026-10-22 Morning Report: Nickel Strong, Copper Weak, Precious Metals Range-Bound, Glass Dips on Rising Open Interest View 2026-10-21:Intl dailyCommodities Pre-Open Brief 2026-10-21: WTI Crude Gaps -3.5% in Asia as Brent Holds View 2026-10-21:China daily2026-10-21 China Futures Morning Report: Coking Coal Settlement 1408, Shanghai Silver Settlement 13861 View 2026-10-20:Intl dailyPre-Open Brief 2026-10-20 — WTI settles 103.66 (+2.22%) then Asia gaps to 98.27 (Asia) (-5.20%) View 2026-10-20:China daily[Morning Brief] Commodity Market Under Pressure and Diverging, Shorts Dominate Black and Nonferrous Metals: 2026-10-20 Current 2026-10-19:Intl dailyCommodities Pre-Open Brief 2026-10-19: Oil Backwardation Widens, Gold Holds 4181 View 2026-10-19:China daily2026-10-19 Morning Report: Precious Metals Night Session Rebounds, Black Series Diverges, Crude Oil Geopolitical Premium Persists View 2026-10-18:Intl dailyCommodities Pre-Open Brief 2026-10-18: Oil Surge, Gold Steady, Copper Divergence View 2026-10-18:China daily2026-10-18 Morning Report: Gold and Silver Night Session Rebound, Crude Oil Geopolitical Premium Dominates, Black Series Divergence Continues View 2026-10-17:Intl dailyPre-Open Brief 2026-10-17 — WTI at 101.41 settle leads energy complex; silver 20D -14.66% View 2026-10-17:China daily2026-10-17 Morning Report: Precious Metals Stabilize in Night Session, Black Series Divergence Intensifies View 2026-10-16:Intl dailyPre-Open Brief 2026-10-16: WTI at 97.97 Settled +3.03%, Asia Fading to 96.13 (Asia) View 2026-10-16:China daily2026-10-16 China Futures Morning Report: Shanghai Silver Falls Nearly 5%, Leading Market Decline; Crude Oil SC Stabilizes After Night Session Giveback View 2026-10-15:Intl dailyCommodities Pre-Open Brief 2026-10-15 View 2026-10-15:China daily2026-10-15 China Futures Morning Report: Precious Metals Plunge, Chemicals Move Against Trend, Black Complex Diverges as Coking Coal Momentum Fades View 2026-10-14:Intl dailyCommodities Pre-Open Brief 2026-10-14: Gold Anchored at 4177.3, WTI Backwardation Widens to 0.88 View 2026-10-14:China daily2026-10-14 China Futures Morning Report: Precious Metals Give Back Night Session Gains, Energy & Chemicals Rise Against Trend View

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