Copper $ 6.054 / lb 2.64%

Brent Crude Oil $ 63.2 / bbl -0.33%

Palladium $ 1948 / ozt 3.62%

Crude Oil $ 58.95 / bbl -0.08%

Natural Gas $ 3.226 / Btu -1.95%

Silver Futures $ 85.52 / ozt 6.23%

Aluminum Futures $ 3145 / ton 0.76%

Micro Gold Futures $ 4619.3 / ozt 2.02%

Micro Silver Futures $ 85.54 / ozt 6.27%

Platinum $ 2387.95 / ozt 3.83%

Gold Futures $ 4618 / ozt 1.96%

Go to MDC Markets

Hedge funds bail on copper as ‘supply storm’ looms

Globe and Mail | September 4, 2016 | 5:56 pm Base Metals Copper

Copper price: Don’t expect any 2017 fireworks

Copper smelting at Codelco’s Caletones. (Image courtesy of Codelco | Flickr)

Hedge funds and other large speculators held a net-short position, or bets on price declines, of 4,991 U.S. copper futures and options contracts in the week ended Aug. 23, according to Commodity Futures Trading Commission data released three days later. They switched from a net-long position, or wagers on a rally, of 2,237 a week earlier.

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