FIG 01 — METALS · HG
Copper Positioning
Managed Money net
47,690
WoW change
-13,368
Open interest
327,119
3Y index
52w: 26
FIG 02 — NET POSITIONING · 3 YEARS · SHADED = 52W SPEC RANGE
FIG 03 — WEEK-OVER-WEEK CHANGE · MANAGED MONEY · 26 WEEKS
FIG 04 — READ
What this week's report says
Managed money cut 10,418 long contracts and added 2,950 short contracts in Copper this week — a net bearish shift of −13,368 contracts. They remain net long overall.
Managed money and producers & merchants moved in opposite directions this week — speculative and institutional flows disagree on Copper.
Open interest rose alongside the positioning change — fresh money is entering, which typically strengthens the move rather than short-covering.
Data as of Tue 2026-10-20 · source CFTC Disaggregated report · next update 2026-10-30