Chinese Commodity Futures Close: LPG, Bottle Chips, Propylene, Pure Benzene, Polyethylene, Polypropylene, Ethylene Glycol, Styrene Limit Down; Fuel Oil Down Over 14%

The breadth of limit-down moves across the petrochemical complex — from LPG and propylene to styrene and ethylene glycol — points to a synchronized repricing of the entire chain rather than an isolated contract squeeze, while fuel oil's outsized drop suggests the selloff is concentrated in energy-linked derivatives. The divergence is equally telling: palladium, platinum, and Shanghai silver and nickel rallying sharply alongside the rout signals a rotation toward metals with tighter supply narratives rather than a uniform risk-off. Whether the petrochemical weakness reflects demand-side concerns or a broader commodity de-risking is the open question, and the durability of the precious and base metal bid against that backdrop is worth watching.