This report is provided by MacroTerms.com

Data as of: 2026-10-21 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)
Generated: 2026-10-21 07:09:28 · Benchmark settle: 2026-10-20
Body, Best Trade and charts share the same settlement snapshot; intraday live prices are not part of conclusions

2026-10-21 China Futures Morning Report: Coking Coal Settlement 1408, Shanghai Silver Settlement 13861

1. International crude oil settled lower overnight and continued to weaken in the Asian early session; China's crude oil night session fell sharply, dragging down the chemical chain. If the next session breaks below INE.SC pivot S1 711.67, the bearish bias continues; a firm hold above R1 742.17 would invalidate the weak outlook.
2. International gold fell 0.42% overnight and SHFE Gold's night session slipped 0.2% versus the day-session close; UK CPI came in above expectations, reinforcing the rate constraint. Flows rotated from gold to silver, with SHFE Gold's net longs narrowing while SHFE Silver's net longs expanded; gold remains a wait-and-see.
3. International silver rose overnight, combined with Shanghai silver closing at 14075 in the night session and expanding net long positions among the top 20 seats; silver is relatively stronger than gold, and a retest that holds steady at the next session's S1 13760.67 could be an attempt to go long, while a break below 13300 would invalidate the bullish view.