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MTECHTIPS-Copper Sees Heavy Speculative Demand

Tuesday, June 12, 2018 4:33

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MTECHTIPS-Copper Sees Heavy Speculative Demand

MTECHTIPS-Copper futures markets last 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 47,707 contracts in the data reported through Tuesday June 5th. This was a weekly surge of 10,107 contracts. Speculative positions saw the largest one-week rise in six weeks and hit highest bullish position since early February 2018. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -47,851 contracts on the week. This was a weekly loss of -6,616 contracts

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