Copper
Copper
Week of June 23, 2026
BULLISH
Smart money is net long and reducing.
2Y percentile: 90th — Extremely high (historically rare)
Weekly change: -2,461 contracts
Weekly Changes
Producer/Merchant+4.7K
Managed Money-2.5K
Swap Dealer-748
Other Reportable-1.3K
Positioning Percentile (2Y)
Producer/Merchant
8thExtremely low (historically rare)
050100
Managed Money
90thExtremely high (historically rare)
050100
Swap Dealer
50thNormal range
050100
Other Reportable
77thWell above average
050100
Full Stats Table
| Trader Type | Net Position | Weekly Change | 2Y Percentile | 5Y Percentile |
|---|---|---|---|---|
| Producer/Merchant | -97.6K | +4.7K | 8th | 3rd |
| Managed Money | +66.5K | -2.5K | 90th | 95th |
| Swap Dealer | +17.1K | -748 | 50th | 22nd |
| Other Reportable | +5.1K | -1.3K | 77th | 88th |
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.