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Hedge Funds Bet Against Copper for First Time in Three Years
Hedge funds are betting against copper on the London Metal Exchange for the first time since the early months of the pandemic — a sharp reversal from just weeks earlier after China’s disappointing recovery sent prices tumbling. LME data this week showed investment fund positioning in copper flipped to a net short — the first since June 2020, after bearish bets surged since mid-April and long positions have been unwound. The metal, viewed as an economic bellwether for its use across sectors from construction to electronics, has been under mounting pressure after official data pointed to weak demand from the ... (full story)
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- Posted: May 26, 2023 2:20pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 83
