Copper Speculator bullish positions rebounded this week

November 10, 2018

November 10, 2018 – By CountingPips.comReceive our weekly COT Reports by Email

Copper Non-Commercial Speculator Positions:

Large precious metals speculators boosted their bullish net positions in the Copper futures markets this 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 6,386 contracts in the data reported through Tuesday November 6th. This was a weekly boost of 5,719 net contracts from the previous week which had a total of 667 net contracts.

This week’s net position was the result of the gross bullish position advancing by 1,827 contracts to a weekly total of 73,447 contracts and a fall in the gross bearish position to a total of 67,061 contracts which was a reduction by -3,892 contracts for the week.


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The net speculative position rebounded this week after last week’s decline by -8,680 contracts. Overall, the copper spec position has gained for three out of the past four weeks and has now been in positive bullish territory for seven straight weeks.

Copper Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -6,777 contracts on the week. This was a weekly drop of -4,456 contracts from the total net of -2,321 contracts reported the previous week.

Copper Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Copper Futures (Front Month) closed at approximately $273.25 which was a boost of $6.85 from the previous close of $266.40, according to unofficial market data.

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

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