Copper COT Report
CFTC Commitments of Traders · report date 2026-07-21 (released Jul 24, 2026) · next report expected Jul 31, 2026 (regular cycle; see the release schedule for holiday shifts)
As of the Jul 21, 2026 COT report, large speculators are net long 73,977 Copper futures contracts (up 9,592 week-over-week), commercials are net short 82,112, and open interest is 270,048 contracts.
73,977
Large speculators net
-82,112
Commercials net
95.6
COT index (3-year)
270,048
Open interest
Positioning — week of 2026-07-21
| Trader category | Net position | Weekly change | % of open interest | COT index 26w | COT index 52w | COT index 3y |
|---|---|---|---|---|---|---|
| Large speculators | 73,977 | +9,592 | 27.4% | 88.2 | 91.6 | 95.6 |
| Commercials | -82,112 | -8,496 | -30.4% | 15.4 | 11.7 | 5.5 |
| Small traders | 8,135 | -1,096 | 3.0% | 0.0 | 49.8 | 56.4 |
Net = long − short (spread positions cancel). COT index: 0 = most net-short of the lookback, 100 = most net-long. How it's computed.
Net positions since 1989
Disaggregated breakdown — week of 2026-07-21
| Category | Net position | Weekly change |
|---|---|---|
| Producer/merchant | -91,208 | -4,824 |
| Swap dealers | 9,096 | -3,672 |
| Managed money | 71,515 | +11,330 |
| Other reportables | 2,462 | -1,738 |
| Small traders | 8,135 | -1,096 |
Recent history
| Report date | Open interest | Large spec net | Δ | Commercial net | Δ | Small trader net |
|---|---|---|---|---|---|---|
| 2026-07-21 | 270,048 | 73,977 | +9,592 | -82,112 | -8,496 | 8,135 |
| 2026-07-14 | 259,873 | 64,385 | +113 | -73,616 | -446 | 9,231 |
| 2026-07-07 | 250,948 | 64,272 | -516 | -73,170 | -76 | 8,898 |
| 2026-06-30 | 254,335 | 64,788 | -6,832 | -73,094 | +7,384 | 8,306 |
| 2026-06-23 | 268,800 | 71,620 | -3,730 | -80,478 | +3,930 | 8,858 |
| 2026-06-16 | 270,752 | 75,350 | +900 | -84,408 | -473 | 9,058 |
| 2026-06-09 | 274,331 | 74,450 | -4,383 | -83,935 | +4,710 | 9,485 |
| 2026-06-02 | 276,892 | 78,833 | +5,793 | -88,645 | -4,933 | 9,812 |
| 2026-05-26 | 266,243 | 73,040 | -2,846 | -83,712 | +1,787 | 10,672 |
| 2026-05-19 | 257,964 | 75,886 | -423 | -85,499 | +1,644 | 9,613 |
| 2026-05-12 | 259,808 | 76,309 | +13,460 | -87,143 | -15,126 | 10,834 |
| 2026-05-05 | 232,609 | 62,849 | -432 | -72,017 | +12 | 9,168 |
| 2026-04-28 | 230,596 | 63,281 | +4,077 | -72,029 | -2,694 | 8,748 |
| 2026-04-21 | 250,504 | 59,204 | +4,095 | -69,335 | -5,194 | 10,131 |
| 2026-04-14 | 245,595 | 55,109 | +14,882 | -64,141 | -12,526 | 9,032 |
| 2026-04-07 | 224,634 | 40,227 | +123 | -51,615 | -1,806 | 11,388 |
| 2026-03-31 | 220,756 | 40,104 | +2,567 | -49,809 | -3,521 | 9,705 |
| 2026-03-24 | 221,772 | 37,537 | -10,507 | -46,288 | +13,146 | 8,751 |
| 2026-03-17 | 231,319 | 48,044 | -3,622 | -59,434 | +3,199 | 11,390 |
| 2026-03-10 | 235,322 | 51,666 | -6,015 | -62,633 | +7,111 | 10,967 |
| 2026-03-03 | 244,932 | 57,681 | -759 | -69,744 | +2,604 | 12,063 |
| 2026-02-24 | 261,235 | 58,440 | -891 | -72,348 | +1,538 | 13,908 |
| 2026-02-17 | 272,967 | 59,331 | +13,458 | -73,886 | -13,094 | 14,555 |
| 2026-02-10 | 270,792 | 45,873 | -1,941 | -60,792 | +1,759 | 14,919 |
| 2026-02-03 | 278,845 | 47,814 | -576 | -62,551 | +2,261 | 14,737 |
| 2026-01-27 | 278,219 | 48,390 | -4,185 | -64,812 | +4,374 | 16,422 |
Full history, no login: CSV (1989-07-31 → 2026-07-21) · JSON
Contract facts
(CONTRACTS OF 25,000 POUNDS)
Contract unit (CFTC)
HG
Ticker
COMEX
Exchange
085692
CFTC contract code
FAQ
- Are large speculators long or short Copper futures?
- As of the 2026-07-21 COT report, large speculators (non-commercial traders) are net long 73,977 contracts in Copper futures.
- How current is this Copper COT data?
- The latest report is dated 2026-07-21 (positions as of that Tuesday's close), published by the CFTC on 2026-07-24. This page updates within minutes of each weekly release.
- Where can I download Copper COT history?
- The full weekly series (1989-07-31 to 2026-07-21) is free at /data/cot/copper.csv — no login, no cap.
Related markets
All COT markets
Base Metals
Copper CSV
Steel-HRC COT
Aluminum MWP COT
Aluminium Euro Prem Duty-Paid COT
Source: CFTC Commitments of Traders, legacy futures-only report, contract code 085692. Dataset coverage 1989-07-31 → 2026-07-21. Methodology.