FX.co ★ Copper Bulls Trim Exposure as CFTC Net Long Positions Edge Lower

Speculative interest in copper futures eased slightly in the latest reporting period, according to updated data on CFTC copper speculative net positions released in the United States on 10 July 2026. Net long positions slipped to 64.3K contracts from a previous level of 64.8K, indicating a modest reduction in bullish bets on the metal.

While the move is incremental, the dip suggests some traders may be locking in gains or turning more cautious amid evolving expectations for global growth, industrial demand, and monetary policy. The adjustment in positioning could reflect a wait-and-see stance as market participants reassess the balance between tighter supply conditions and uncertainty over the strength and sustainability of demand for copper, a key barometer for economic activity.