China Commodity Futures Close: Lithium Carbonate Falls Over 4%, Apple Down 3%

The split session is the real signal: battery-chain materials like lithium carbonate and nickel sold off alongside softs, while silver and industrial silicon held gains — a divergence that points to positioning shifts rather than a single macro driver. Silver's relative strength against the industrial complex is the more telling move, since it usually tracks the same risk sentiment. Whether the weakness in lithium and nickel reflects demand concerns or simply contract-specific flows is the open question, and it matters for anyone tracking the battery supply chain.