The latest figures from the U.S. Commodity Futures Trading Commission (CFTC) have revealed a notable decrease in copper speculative net positions. As of December 20, 2024, the positions have dropped significantly to 5.9K from 11.0K in the previous report.
This sharp decline highlights a shift in market sentiment among speculators who are now less bullish on copper. Speculative net positions reflect the difference between the number of bullish and bearish bets on copper futures, a key component in manufacturing and an important barometer for the global industrial demand.
The change in these speculative positions can be attributed to various factors, including concerns about future economic growth and potential slowdowns in major economies impacting demand for industrial metals. This recent data point marks a critical indicator for investors and traders who closely monitor futures markets as a gauge for price direction and broader economic trends.
