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Data as of: 2026-10-12 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)
Generated: 2026-10-12 07:15:59 · Benchmark settle: 2026-10-09
Body, Best Trade and charts share the same settlement snapshot; intraday live prices are not part of conclusions

2026-10-12 China Futures Morning Report: Coking Coal and Coke Extend Night-Session Gains, Precious Metals Move in Domestic-External Resonance, Chemicals Divergence Intensifies

1. Supply-contraction expectations combined with continued night-session strength → coking coal and coke longs actively add positions → coking coal eyes 1574 (R1), coke eyes 2051.67 (R1); invalidation below S1.
2. Overnight international precious metals strengthen (GC +1.43%, SI +2.73%) alongside Chinese safe-haven buying → Shanghai gold and silver recover day-session losses in the night session → Shanghai gold holds above 900 and eyes 916.63 (R1), Shanghai silver breaks 14911.67 (R1) and eyes 15200.
3. Chemicals divergence intensifies: methanol rises on increased open interest, ethylene glycol rebounds from oversold levels but trend unchanged → hold methanol longs, treat EG/PTA with a bearish bias; lithium carbonate shorts actively add positions, watch 114433.33 (S1) on the downside.