Large base metals speculators continue to increase their net long positions in the Copper futures markets 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 20273 net contracts in the data reported through July 19th 2021. This was a weekly gain of 3294 net contracts and pushed up the net longs to two month high. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -27378 contracts, recording a weekly change of -390 net contracts.
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