FX.co ★ Copper Bulls Trim Positions as CFTC Net Longs Edge Lower to 68.5K

Speculative interest in U.S. copper futures eased slightly, with CFTC data showing net positions slipping from 69.4K to 68.5K, according to the latest update on 16 October 2026. The figures point to a modest reduction in bullish bets among speculators.

While the pullback is relatively small, it suggests some investors may be reassessing the near-term outlook for the metal after a period of elevated long positioning. Market participants will now be watching upcoming macroeconomic data and industrial indicators to gauge whether this is the start of a broader repositioning or simply a pause within an ongoing positive trend for copper exposure.