U.S. placed trackers in AI chip shipments to stem diversions to China - Reuters
Weekly CFTC COT Copper Report
Copper speculative positions fell last week
Non-Commercial Positions:
Copper speculators and large futures traders cut their copper bullish bets last week after net positions had gained for three weeks in a row, 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 Comex copper futures, traded by large speculators and hedge funds, totaled a net position of +1,624 contracts in the data reported through May 26th. This was a weekly change of -7,717 contracts from the previous week’s total of +9,341 net contracts that was registered on May 19th.
The decline in the weekly net speculator positions reflects a fall in the bullish positions by -8,699 contracts that overtook a decline in the bearish positions by -982 contracts to register the net weekly change of -7,717 contracts.
Over the weekly reporting time-frame, from Tuesday May 19th to Tuesday May 26th, the copper price traded lower from the $2.83 level to a price of $2.77, according to copper futures price data from investing.com.
Commercial Positions:
In the commercial positions for copper on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) increased their buying of copper futures to a net total position of -366 contracts through May 26th. This is a weekly change of +6,410 contracts from the total net of -6,776 contracts on May 19th.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.