MTECHTIPS;-Copper Spec Longs Hit Six Month High

MTECHTIPS;-Copper Spec Longs Hit Six Month High

MTECHTIPS-copper futures markets, 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 40,846 contracts in the data reported through Tuesday August 22nd. This was a weekly surge of 4,017 contracts from the previous week which had a total of 36,829 net contracts. The copper speculative position has now advanced higher for a sixth straight week and to the highest level since February 21st. The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -41,062 contracts on the week. This was a weekly drop of -3,917 contracts
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