CAPITALSTARS MCX COMMODITY COPPER NEWS UPDATE : :09 October 2019
Base Metals Preview: Copper Speculators Add To Bearish Bets
Large base metals
speculators added to their bearish 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 -46,773 contracts in the data reported through
Tuesday, October 1st. This was a weekly change of -6,034 net contracts.
Copper speculators
pushed their bearish bets higher for a second straight week after easing in the
previous two weeks. The speculative standing had recently risen to an all-time
record bearish high. The commercial traders' position, hedgers or traders
engaged in buying and selling for business purposes, totaled a net position of
43,046 contracts on the week. This was a weekly gain of 5,688 contracts.
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