Commodities
Home›Commodities›Industrial Metals›Copper speculators add longs as supply stays tight
Copper speculators add longs as supply stays tight
TD Securities said net long exposure was cut for five weeks before speculators resumed adding length, supported by firmer Chinese premiums, low arrivals, and inventory draws on the LME and SHFE.
TD Securities’ commodity strategy team said copper speculators have restarted building net long positions after reducing longs for five weeks. The firm attributed the renewed risk-taking to tight supply conditions and supportive market signals.
According to TD Securities, firm Chinese premiums, low arrivals, and inventory draws on both the LME and SHFE have helped underpin the latest length additions.
The team said further long building could be sustained by those factors, but that expectations for additional Fed tightening could also lead to faster trimming if copper fails to extend its recent gains.
FXStreet’s market wrap also noted that copper’s outlook is being weighed alongside broader interest-rate expectations, with the strategy team flagging that tightening fears could quickly cool positioning.
Latest closeCopper $6.287 ▼0.1%