FX.co ★ Aluminium Bears Step Back as CFTC Net Speculative Positions Return to Neutral

Speculative sentiment in the U.S. aluminium market has shifted back to neutral, according to the latest data on CFTC Aluminium speculative net positions released on 28 August 2026. The indicator, which previously stood at -0.5K, has moved to 0.0K, signaling that net short positioning has been fully unwound.

The move from a modest net short to a flat stance suggests that traders may be reassessing downside bets on aluminium, potentially reflecting reduced bearish conviction or greater uncertainty about the near-term price outlook. While the shift is small in absolute terms, returning to neutral positioning often marks a pause in directional views as market participants await clearer signals from economic data, industrial demand trends, or broader commodity market dynamics.

For now, the latest reading underscores a more balanced speculative landscape in the U.S. aluminium market, with neither bullish nor bearish positions clearly dominating. Analysts and traders will be watching upcoming data releases and policy developments for clues on whether this neutrality will give way to renewed positioning in either direction.