Jul 28, 02:07 AM

China Commodity Futures Drop with Coking Coal, Lithium, Silicon Limits Down; Steel Exports Fall 8.5%, Insurance Index Up 3%

China's commodity futures market opened lower on Monday, with notable declines in coking coal, lithium carbonate, and silicon futures. The INE Freight Index fell 3.2%, while crude oil dropped 1.1%. Other commodities such as silver, nickel, tin, gold, aluminum, copper, zinc, and iron ore also experienced declines ranging from 0.7% to 2.1%. The CSI 300 Index opened flat at 4,128.20, but sector-specific indices showed mixed performance. The CSI Energy Index fell over 2%, and the CSI SWS Coal Index dropped 3% in early trading. Conversely, the Insurance Index rose 3% following a reduction in the life insurance product reference rate by the industry body. In steel exports, China shipped 9.678 million tons in June, down 8.5% from May, with the average steel export price decreasing 1.6% to $687.1 per ton. Lithium carbonate futures hit the daily limit down at 73,120 yuan per ton, a decline of 7.98%. Coking coal futures plunged 10% intraday to 1,112 yuan per ton and subsequently hit the limit down with an 11% fall after four consecutive limit-up days. Polycrystalline silicon futures also hit the limit down, falling 9% to 47,750 yuan per ton.

#China #INE Freight Index #CSI 300 Index #CSI Energy Index #CSI SWS Coal Index #Insurance Index

Written with ChatGPT (GPT-4).

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China Commodity Futures Drop with Coking Coal, Lithium, Silicon Limits Down; Steel Exports Fall 8.5%, Insurance Index Up 3%

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