Chinese crude oil futures plunge over 9% as container shipping rates rise
On September 18, Chinese domestic futures markets saw broad declines, with SC crude oil falling over 9% at close, coking coal dropping over 7%, and coke declining over 5%. Energy and petrochemical sectors led losses, while container shipping freight rates for Europe routes rose over 2%, and Shanghai silver gained nearly 4%. The movements were reported without attributed causes.
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Crude Oil Futures Plunge Over 9%, Shanghai Silver Rises Nearly 4% at Close
At the close of commodity futures trading, major contracts experienced significant price movements. The main crude oil contract fell more than 9%, leading declines among energy commodities. Coking coal dropped over 7%, and coke declined by more than 5%. Fuel oil, liquefied petroleum gas (LPG), bottle-grade PET resin, paraxylene, and short fibers each fell by more than 4%. In contrast, precious metals and shipping rates saw gains. Shanghai silver rose nearly 4%, while palladium, container shipping freight rates for Europe routes, platinum, and Shanghai lead each gained more than 2%. The report from tradealpha provides a snapshot of market volatility across multiple commodity sectors.
Read sourceMost Chinese Futures Fall at Midday Close; SC Crude Oil Drops Nearly 10%
At the midday close on Chinese futures markets, most major domestic contracts declined while a few posted gains. SC crude oil led the losses, falling nearly 10%, followed by coking coal which dropped nearly 8%, and coke which slid more than 5%. Fuel oil, bottle-grade PET chips, liquefied petroleum gas (LPG), paraxylene, and staple fiber each declined by over 4%. On the gainers' side, Shanghai silver rose nearly 4%, while palladium, container shipping freight rates for Europe routes, platinum, and Shanghai lead each advanced by more than 2%. Shanghai tin, eggs, and international copper each gained nearly 2%. The report from Jin10 provides a snapshot of market movements without attributing specific causes or forecasts.
Read sourceMost Chinese Futures Fall; SC Crude Oil Drops Over 8% on September 18
On September 18, most domestic futures contracts in China declined, according to Cailian Press. SC crude oil led the losses, falling by more than 8%. Coking coal dropped over 6%, coke declined nearly 5%, and bottle-grade PET resin fell nearly 4%. Paraxylene, short fiber, PTA, and polyvinyl chloride (PVC) each dropped more than 3%. On the gainers' side, container shipping freight rates for Europe rose nearly 3%, Shanghai silver increased over 2%, Shanghai lead and international copper climbed nearly 2%, and apple, Shanghai zinc, Shanghai copper, and Shanghai tin each gained more than 1%. The report provides a snapshot of market movements without attributing specific causes or forecasts.
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Chinese Futures Fall: Crude Oil Drops 8%, Coking Coal Down 6%, Shipping Rates Rise
At the close of the morning trading session on Chinese domestic futures markets, most major contracts declined while a few posted gains. On the downside, SC crude oil led losses with a drop of over 8%, followed by coking coal which fell more than 6%, and coke which declined nearly 5%. Bottle-grade PET resin fell almost 4%, while paraxylene, short-staple fiber, PTA, and polyvinyl chloride (PVC) each dropped over 3%. On the gainers' side, the container shipping freight rate index for the Europe route rose nearly 3%. Shanghai silver climbed over 2%, Shanghai lead and international copper gained nearly 2%, and apples, Shanghai zinc, Shanghai copper, and Shanghai tin each advanced over 1%. The report, sourced from financial data provider Jin10, reflects broad weakness in commodity markets, particularly in energy and petrochemical sectors, while select metals and shipping rates showed resilience.
Read sourceChina Futures Mixed at Open: Crude Oil Drops 6%, Container Shipping Surges 3%
At the morning session opening on an unspecified date, most major Chinese domestic futures contracts declined while a few rose, according to a report from financial data provider jin10. On the downside, SC crude oil fell nearly 6%, leading the losses. Liquefied petroleum gas (LPG) and coking coal each dropped more than 3%, while fuel oil and polyvinyl chloride (PVC) declined nearly 3%. Pure benzene, paraxylene, and styrene (EB) each fell more than 2%. On the gainers' side, container shipping freight rates for Europe routes surged over 3%, the strongest performer. Shanghai silver rose more than 2%, Shanghai lead and international copper climbed nearly 2%, and Shanghai zinc, lithium carbonate, Shanghai tin, and Shanghai copper each gained more than 1%. The report presents observed market movements without attributing specific causes or forecasts.