FX.co ★ Copper Bulls Extend Lead as CFTC Net Long Positions Climb to 63.3K

Speculators have increased their bullish bets on copper in the United States, according to the latest data from the Commodity Futures Trading Commission (CFTC) updated on 01 May 2026. Copper speculative net positions rose to 63.3K, up from the previous reading of 59.2K.

The uptick in net long positions suggests growing optimism among traders about the near-term outlook for the red metal. The move from 59.2K to 63.3K highlights a continued shift towards long exposure, signaling that market participants may be anticipating stronger demand or tighter supply conditions ahead.

While the CFTC data do not explain the drivers behind the positioning change, the rising speculative interest underscores copper’s ongoing relevance as a barometer of economic sentiment, particularly in sectors like construction, manufacturing, and electrification.