Copper Non-Commercial Positions:
Large speculators and traders decreased their net positions in the copper futures markets last week following seven weeks of rises, 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 52,026 contracts in the data reported through December 20th. This was a weekly change of -9,089 contracts from the previous week which had a total of 61,115 net contracts.
Copper Commercial Positions:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -52,552 contracts last week. This is a weekly gain of 8,118 contracts from the total net of -60,670 contracts reported the previous week.
Copper ETN:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the iPath Bloomberg Copper Subindex Total Return Exp 22 Oct 2037 (NYSE:JJC), which tracks the price of copper, closed at approximately $28.69 which was a change of $-1.20 from the previous close of $29.89, according to market data from Yahoo Finance.