At the morning open, China’s domestic futures front-month contracts were mostly
lower. Losers: Shanghai silver down over 7%, tin down over 4%; Shanghai gold,
20-grade rubber and international copper down more than 2%; synthetic rubber
down nearly 2%; Shanghai copper and rubber down over 1%. Winners: urea up over
2%; japonica rice and coking coal up about 2%; bitumen and container freight
rates on Europe routes up over 1%; PTA up roughly 1%.
