18 May 2015
Net speculative positions on Copper turn bullish
FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC) showed copper speculators increased the bullish positions, thereby pushing the net positions to a positive side.
The non-commercial futures contracts of Comex copper futures, traded by large speculators and hedge funds, witnessed a weekly change of +8968 contracts to total a net position of +8516 contracts. The weekly bearish positions rose by 1224 contracts and the bullish positions rose by 10192 contracts.
Meanwhile, during the reporting time period - May 5th to May 12th, the copper price remained largely unchanged at USD 2.93/pound.
The non-commercial futures contracts of Comex copper futures, traded by large speculators and hedge funds, witnessed a weekly change of +8968 contracts to total a net position of +8516 contracts. The weekly bearish positions rose by 1224 contracts and the bullish positions rose by 10192 contracts.
Meanwhile, during the reporting time period - May 5th to May 12th, the copper price remained largely unchanged at USD 2.93/pound.