Shanghai's Biggest Brokers Switch to Net-Short Copper Position

The 20 largest brokers on the Shanghai Futures Exchange ranked by open interest held a combined net-short position of 535 contracts as of Wednesday from a net-long position of 3,747 lots on Sept. 25, according to Bloomberg calculations based on exchange data.

The companies held 174,421 short positions and 173,886 long positions, the data showed. Jinrui Futures Co., a unit of Jiangxi Copper Co., China’s largest producer, is the biggest holder of copper positions.

Chinese markets will close from Oct. 1 to Oct. 7 for the National Day holiday.

— With assistance by Alfred Cang

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