COT Terminal

Copper #1 (COMEX)

Copper positioning

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Price series: Copper futures (front month) · positions as of Tuesday Nov 3, 2026, published Friday Nov 6, 2026

Last weekly close · Copper futures (front month)
6.2490
Managed money net position (contracts)
34,890

This week · published Nov 6, 2026

Copper, week of Nov 3, 2026: Managed money sit at the 62nd percentile of their 3-year range. They cut 5,685 net long contracts on the week. 8-week signal: convergence — healthy downtrend.

OverviewCOT IndexGap IndexThis weekSignal log
Convergence — healthy downtrendSep 8, 2026 → Nov 3, 2026 · 8-week window · confirmed by 2 categories

Price and positioning are falling together: the downtrend is well supported.

Price -3.4% · managed money net position -47,264 (contracts, over 8 weekly reports)

Price vs positioning (contracts)

Price on top, and what the big traders were holding underneath it.

Trader groups on the chart — tap to show or hide

Left axis: net position in contracts. Right axis: price (Copper futures (front month)). Net position = long contracts minus short contracts. Above the zero line = net long.

Signal classification tracks bullish divergencebearish divergenceconvergence (healthy trend)

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Source: CFTC Commitments of Traders — positions as of Tuesday, published the following Friday. All position figures are futures contracts unless the % of open interest view is selected. Positioning is a sentiment tool, not a timing signal. Not investment advice.