Large base metals speculators continue to add to 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 67162 net contracts in the data reported through November 16th 2020. This was a weekly rise of 2093 net contracts and took the net longs to around two month high. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -71918 contracts, recording a weekly change of -4156 net contracts.
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