CAPITALSTARS MCX COMMODITY COPPER NEWS UPDATE : :01 October 2019
Base Metals Preview: Copper Speculative Short Position Increases
Large
base metals speculators increased their bearish net positions in the Copper
futures markets last week for the first time in three weeks, 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 -40,739 contracts in the data reported through Tuesday, September
24th. This was a weekly change of -3,789 net contracts. Copper speculators raised
their bearish bets after two weeks of declining bearish positions. The
commercial trader's position, hedgers or traders engaged in buying and selling
for business purposes, totaled a net position of 37,358 contracts on the week.
This was a weekly surge of 4,666 contracts from the total net of 32,692
contracts reported the previous week.
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