Shanghai Silver Falls Nearly 3% at Night Session Open; Pulp Rises Over 1%

The breadth of the selloff — silver leading but with losses spread across energy, petrochemicals and metals — points to a session-wide risk-off move in Chinese futures rather than a single-commodity story. Pulp's gain alongside glass and caustic soda suggests the weakness is not uniform, leaving room to question whether this reflects macro positioning or sector-specific flows. Whether silver's drop holds through the session, or reverses as it did in prior night opens, is the open question.