CFTC: Net positions in copper slashed for the 1st time in 8 weeks

The latest data published by Commodity Futures Trading Commission (CFCT) on Friday, revealed that hedge funds and money managers reduced their net positions in copper futures for the first time in eight weeks.

The non-commercial futures contracts of copper futures, traded by large speculators and hedge funds, totaled a net position of 52,026 contracts.This was a weekly change of -9,089 contracts from the previous week which had a total of 61,115 net contracts.

The commercial traders position, including hedgers or traders’, totaled a net position of -52,552 contracts last week. This is a weekly gain of 8,118 contracts from the total net of -60,670 contracts reported the previous week.