Hedge Funds Raise Copper Net-Longs 16% to 73,523 Contracts at 20-Week High
Updated
Updated · Bloomberg · May 15
Hedge Funds Raise Copper Net-Longs 16% to 73,523 Contracts at 20-Week High
3 articles · Updated · Bloomberg · May 15
73,523 contracts marked hedge funds' net-long copper position in the week ended May 12, up 16% from the prior week and the highest level since December.
The buildup in bullish wagers came before Comex copper prices in New York climbed to a fresh record high, signaling stronger speculative conviction.
US government data released Friday showed large speculators had pushed copper positioning to a five-month peak, underscoring growing momentum in the market.
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