FX.co ★ Speculators Boost Bullish Bets on Copper as Net Positions Climb to 59.3K

Net speculative positioning in U.S. copper futures rose sharply in the latest reporting period, signaling growing bullish sentiment toward the metal. According to data updated on 20 February 2026, CFTC copper speculative net positions increased to 59.3K contracts, up from a previous level of 45.9K.

The jump in net long positions suggests that traders are becoming more optimistic about copper’s price outlook, potentially reflecting expectations for stronger demand or tighter supply conditions. While the data does not explain the drivers behind the move, the increase underscores a clear shift toward more aggressive positioning by speculators in the U.S. copper market.