Base metals speculators continued to see sharp spike in their net long positions in the Copper futures market last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds and retailers totaled a net long position of 53147 contracts in the data reported through April 23, 2024. This was a weekly surge of 10825 net contracts. The net longs are at a nearly three year high.

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