Chinese Commodity Futures Open Mixed: Coking Coal Up Over 3%, Crude Down Over 2%

The split between steelmaking inputs and energy is the signal worth noting: coking coal and coke strength points to domestic industrial demand holding up, while crude and container shipping weakness suggests softer external or freight-side conditions. That divergence, rather than any single contract, is what makes the session notable. Whether coking coal's gains hold alongside continued crude softness is the open question, and it bears watching for signs of how domestic construction and manufacturing activity are tracking relative to global trade flows.