Funds Grow Bullish On Copper-Shanghai Metals Market

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Funds Grow Bullish On Copper

Industry News 08:48:41AM Apr 09, 2012 Source:SMM

NEW YORK, Apr 06, 2012 (Dow Jones) -- Managed money funds took a more bullish view on Comex copper futures and options in the week ended April 3, according to Friday afternoon data from the Commodity Futures Trading Commission.

Fund managers bought 2,567 long positions, or bets on higher prices, and shed 1,192 short positions, or bets on lower prices, during the reporting period.

This took their net long position in copper up 25% to 18,642 contracts, from 14,883 contracts last week.

The net position is the difference between long and short positions held by traders in the category. Changes in the net position are seen as indicators of shifts in trader sentiment.

 

Price

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62% Fe Fines (Qingdao Port): IOPI62
May.21
734.0
7.0
(0.96%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
May.21
98.6
1.1
(1.13%)
58% Fe Fines (Qingdao Port): IOPI58
May.21
631.0
2.0
(0.32%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
May.21
85.1
0.4
(0.46%)
65% Fe Fines (Qingdao Port): IOPI65
May.21
836.0
16.0
(1.95%)

Funds Grow Bullish On Copper

Industry News 08:48:41AM Apr 09, 2012 Source:SMM

NEW YORK, Apr 06, 2012 (Dow Jones) -- Managed money funds took a more bullish view on Comex copper futures and options in the week ended April 3, according to Friday afternoon data from the Commodity Futures Trading Commission.

Fund managers bought 2,567 long positions, or bets on higher prices, and shed 1,192 short positions, or bets on lower prices, during the reporting period.

This took their net long position in copper up 25% to 18,642 contracts, from 14,883 contracts last week.

The net position is the difference between long and short positions held by traders in the category. Changes in the net position are seen as indicators of shifts in trader sentiment.