FX.co ★ Speculators Trim Bullish Copper Bets as CFTC Net Longs Fall to 37.5K

Copper speculative positioning in the United States cooled in the latest reporting period, with CFTC data showing net long positions falling to 37.5K from a previous 48.0K. The fresh figures, updated on 27 March 2026, point to a notable reduction in bullish sentiment toward the metal.

The pullback suggests that traders are becoming more cautious on copper, which is closely watched as a barometer of global industrial activity and growth expectations. While positioning remains net long, the downsizing of speculative exposure may indicate growing uncertainty over the near-term demand outlook or a reassessment of recent price moves.

Market participants will now be watching upcoming macroeconomic data and industrial indicators to gauge whether this shift marks the start of a broader repositioning in commodities or a temporary pause in speculative enthusiasm for copper.