At the midday close, China’s front-month futures were mostly lower: Shanghai
crude (SC) fell over 6%; benzene and low-sulfur fuel oil (LU) dropped more than
5%; fuel oil declined about 5%; container freight (Europe route), styrene (EB),
asphalt, p-xylene and live hogs each fell over 4%. On the upside, stainless
steel (SS), glass and caustic soda rose more than 1%, while Shanghai nickel
gained nearly 1%.
