Large base metals speculators cut their net long positions in the Copper futures markets further last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of 35995 net contracts in the data reported through April 12th 2021. This was a weekly fall of -7902 net contracts. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -48614 contracts, recording a weekly change of 4915 net contracts.
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