Commodities Buzz: Copper net speculative longs crash to seven month low

Base metal speculators sharply cut their longs in the Copper futures market, 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 totalled a net long position of 57397 contracts in the data reported through October 20, 2026, witnessing a crash of 11123 contracts. Net longs have come off highest mark in last decade and currently are currently at around seven-month low.

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