Speculative net long positions in LME copper surged by 12,668 lots to 60,771 lots in the week ending July 24.
Speculative net long positions in LME copper jumped by 12,668 lots to 60,771 lots in the week ending July 24, driven by tight supply and low inventories. Both long and short positions increased, reflecting heightened market activity.
Aluminium and zinc saw modest positioning changes, with net longs rising by 96 lots and 4,107 lots, respectively. Broader sentiment improved amid persistent supply constraints, though other base metals experienced less pronounced shifts.
The data underscores copper’s outperformance as traders bet on sustained supply deficits and inventory pressures.