Speculative interest in U.S. copper futures eased slightly, according to the latest data on CFTC Copper speculative net positions. Net long positions slipped to 75.9K from the previous 76.3K, based on figures updated on 22 May 2026.
The marginal decline signals a modest pullback in bullish bets rather than a wholesale shift in sentiment. While the reduction is small, it may indicate that some traders are locking in profits or positioning more cautiously amid evolving expectations for global growth, industrial demand, and monetary policy. With net positions still firmly in positive territory, speculative traders remain generally constructive on copper, even as they trim exposure at the margin.
