Chinese Commodity Futures Open: Shanghai Silver Plunges Over 5%, Gold Down Nearly 3%

The split between precious metals and energy-linked contracts at the Shanghai open points to a rotation rather than a uniform risk-off move: silver and gold, which track global macro and dollar flows, are absorbing the selling, while methanol, LPG and propylene draw bids. That divergence matters for traders watching whether domestic Chinese demand signals are decoupling from Western-rate-driven metal pricing. The scale of the silver drop relative to gold suggests leveraged liquidation rather than a fundamental repricing, and whether the energy complex holds its gains through the session is the open question.