Managed Funds Grow Bearish on Copper-Shanghai Metals Market

Hot Keywords

  • Silicon
  • Nickel
  • Zinc
  • Futures movement
  • Copper scrap
  • Aluminium
  • Evening comments
  • Macroeconomics
  • Inventory data
  • Copper
  • Production data
  • Market commentary
  • Stainless steel
  • MMi Iron Ore Port Index
  • निकल

Managed Funds Grow Bearish on Copper

Industry News 08:55:28AM Jul 30, 2012 Source:SMM

Jul 27, 2012 (Dow Jones) NEW YORK--Managed money funds added to their bearish bets on Comex copper futures and options in the week ended July 24, according to Commodity Futures Trading Commission data released Friday afternoon.

Traders in the category sold 449 long positions, or bets on higher prices, and added 5,424 short positions, or bets on lower prices.

This increased their net short position to 7,636 contracts from 1,763 contracts a week earlier. This is the largest net short position since the week ended June 25.

The net position is the difference between the number of long and short contracts held by traders in the managed money category. Investors consider changes in the net positions as signals for shifts in sentiment.

 

Price

more
#1 Lead
Aug.22
16875.0
0.0
(0.00%)
#1 Lead - Guangdong
Aug.22
16925.0
-25.0
(-0.15%)
#1 Lead - Henan
Aug.22
16900.0
25.0
(0.15%)
#1 Lead -Tianjin
Aug.22
16925.0
50.0
(0.30%)
#2 Lead
Aug.22
16800.0
0.0
(0.00%)

Managed Funds Grow Bearish on Copper

Industry News 08:55:28AM Jul 30, 2012 Source:SMM

Jul 27, 2012 (Dow Jones) NEW YORK--Managed money funds added to their bearish bets on Comex copper futures and options in the week ended July 24, according to Commodity Futures Trading Commission data released Friday afternoon.

Traders in the category sold 449 long positions, or bets on higher prices, and added 5,424 short positions, or bets on lower prices.

This increased their net short position to 7,636 contracts from 1,763 contracts a week earlier. This is the largest net short position since the week ended June 25.

The net position is the difference between the number of long and short contracts held by traders in the managed money category. Investors consider changes in the net positions as signals for shifts in sentiment.