Night futures open: Shanghai silver falls nearly 2%, gold down over 1%

The split across the SHFE board is the story: precious metals softening while an industrial chemical complex — styrene, glass, pure benzene, ethylene glycol — firms together. That divergence points to rotation rather than a single macro driver, with metals losing bid as some industrial inputs pick up. It matters most for traders holding cross-commodity exposure on the same exchange, where relative moves can matter more than absolute direction. Whether the metals weakness and chemicals strength persist through the session, or converge by the close, is the open question worth watching.