Commodities Buzz: Copper Speculative Longs Gain After Falling For Two Weeks

Large metals speculators added to their bullish net positions in the Copper Futures markets last week, 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 36,355 contracts in the data reported through Tuesday May 15th. This was a weekly gain of 2,903 contracts from the previous week.Speculative positions have increased after declining for two weeks in a row. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -41,277 contracts on the week. This was a weekly fall of -2,050 contracts.