Copper
Copper
Week of September 29, 2026
BULLISH
Smart money is net long and reducing.
2Y percentile: 96th, Extremely high (historically rare)
Weekly change: -4,464 contracts
Weekly Changes
Producer/Merchant+8.2K
Managed Money-4.5K
Swap Dealer-2.6K
Other Reportable-647
Positioning Percentile (2Y)
Producer/Merchant
7thExtremely low (historically rare)
050100
Managed Money
96thExtremely high (historically rare)
050100
Swap Dealer
21stWell below average
050100
Other Reportable
87thWell above average
050100
Full Stats Table
| Trader Type | Net Position | Weekly Change | 2Y Percentile | 5Y Percentile |
|---|---|---|---|---|
| Producer/Merchant | -104.3K | +8.2K | 7th | 3rd |
| Managed Money | +78.1K | -4.5K | 96th | 98th |
| Swap Dealer | +9.5K | -2.6K | 21st | 8th |
| Other Reportable | +7.4K | -647 | 87th | 90th |
About Copper Positioning
Dr. Copper, the metal with a PhD in economics. Copper positioning is one of the best real-time reads on global industrial demand. When managed money goes long copper, they're betting on construction, manufacturing, and infrastructure spending. Divergences between copper and equity positioning often signal turning points.