Home / Metal News / Managed Funds Cut Comex Copper Bets

Managed Funds Cut Comex Copper Bets

iconOct 15, 2012 10:36
Source:SMM
Speculators grew bearish on Comex copper futures and options in the week ended Oct. 9, according to Friday afternoon data released by the Commodity Futures Trading Commission.

Oct 12, 2012 (Dow Jones) NEW YORK--Speculators grew bearish on Comex copper futures and options in the week ended Oct. 9, according to Friday afternoon data released by the Commodity Futures Trading Commission.

Managed money funds slashed 2,500 long positions, or bets on higher prices, and shed 1,632 short positions, or bets on lower prices, during the reporting period.

This took their net long position down 3.6% to 23,448 contracts, from 24,316 a week earlier.

The net position is the difference between the number of long and short contracts held by traders in the category. Shifts in the size of the net position, or changes from a net long to a net short position are closely watched by market participants because they are considered a sign of a change in sentiment.

 

CFTC report
managed funds
copper positions

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

SMM Events & Webinars

All