Large base metals speculators raised 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) on Friday. The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of 59216 net contracts in the data reported through October 19th 2020. This was a weekly rise of 5638 net contracts. The net longs are at a four week high now. Meanwhile, the commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -61238 contracts, recording a weekly change of -6334 net contracts.
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