It Took Only a Month for Funds to Grow Wary of a Copper Rally
- Money managers cut net-long position for second straight week
- Most producers haven't changed supply-expansion plans: BI
Are We Seeing a New Era for Copper?
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It’s been barely a month since investors first started betting on a copper rally, and they’re already on the retreat.
Money managers cut their wagers on price gains for a second week, pulling back just before futures capped the worst slump in a month. Tuesday’s attacks in Brussels sapped confidence in the global growth outlook, while a recovery for the dollar weighed on demand for commodities as alternative assets.