This report is provided by MacroTerms.com

Data as of: 2026-11-01 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)
Generated: 2026-11-01 07:22:24 · Benchmark settle: 2026-10-30
Body, Best Trade and charts share the same settlement snapshot; intraday live prices are not part of conclusions

2026-11-01 China Futures Morning Report: Precious Metals Plunge Overnight, Black Commodities Add Short Positions, Chemicals Oscillate at High Levels

1. Safe-haven funds shift to US Treasuries amid a stronger dollar, causing significant overnight declines in gold and silver → Shanghai gold overnight close at 831.5, breaking the next pivot S1 at 850.61, targeting the 20-day low of 854.72; Shanghai silver overnight close at 11533, breaking S1 at 11894.33, targeting the 20-day low of 12057.
2. Black commodity demand expectations weaken, with short positions actively increasing → Main contract open interest for rebar increases by 31,542 hands and net short position expands by 9,052 hands → Rebar settlement at 3039, above the next pivot S1 at 3017.67; if broken, the trend continues, targeting the 20-day low of 3012.
3. The chemical sector rebounds strongly on cost support but shows clear reduction at high levels → Methanol overnight close up 3.87% at 3597, polypropylene overnight close up 3.56% at 10804 → Methanol settlement at 3463, below the next pivot R1 at 3560; a break above R1 targets the 20-day high of 3558; Polypropylene settlement at 10433, below R1 at 10691.33; a break below S1 at 10201.33 signals a weakening trend.