Copper Speculative Longs Near Five Month Low

Gold Silver Reports — Copper Speculative Longs Near Five Month Low —  Large speculators and traders continued to cut their net positions in the copper futures markets last week for a sixth consecutive week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of copper futures, traded by large speculators and hedge funds, totaled a net position of 22,439 contracts in the data reported through March 14th. This was a weekly fall of -7,280 contracts from the previous week which had a total of 29,719 net contracts. Copper speculative positions have reached a near five month low now.

The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -26,618 contracts last week. This is a weekly rise of 9,751 contracts. — Neal Bhai Reports

Copper Speculative Longs Near Five Month Low | Gold Silver Reports

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