Copper COT Report
CFTC Commitments of Traders · positions as of Tuesday 2026-09-01, released Sep 4, 2026 (the CFTC reports each Tuesday's close three days later) · next release Sep 11, 2026 (regular cycle; see the release schedule for holiday shifts)
Copper positioning leans bearish - commercials selling (26w index 6), speculators crowded long (3y index 96).
How this read is built
- Commercials (hedgers) are net short and sit near the bottom of their 26-week range (COT index 6) - a bearish tilt in the traditional read.
- Large speculators are net long near the top of their 3-year range (index 96) - a crowded long, which historically leans bearish for the setup.
A description of how traders are positioned versus their own history - the standard Commitments of Traders interpretation, computed identically for every market. It is not a price forecast, a trading signal, or advice. How traders use positioning · how the read is computed.
As of the COT report, large speculators are net long 80,869 Copper futures contracts (down 4,397 week-over-week), commercials are net short 92,107, and open interest is 282,640 contracts. Managed money was net long 72,882 contracts as of (down 5,766 week-over-week).
Cite this data
FuturesBench, "Copper COT Report," data as of 2026-09-01. https://futuresbench.com/cot/copper/#net-position Source: CFTC Commitments of Traders (public domain). CSV: https://futuresbench.com/data/cot/copper.csv
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Positioning - as of Tuesday 2026-09-01
| Trader category | Net position | Weekly change | % of open interest | COT index 26w | COT index 52w | COT index 3y |
|---|---|---|---|---|---|---|
| Large speculators | 80,869 | -4,397 | 28.6% | 90.8 | 92.4 | 96.3 |
| Commercials | -92,107 | +2,942 | -32.6% | 6.0 | 5.0 | 2.3 |
| Small traders | 11,238 | +1,455 | 4.0% | 95.3 | 37.4 | 72.3 |
Net = long − short (spread positions cancel). COT index: 0 = most net-short of the lookback, 100 = most net-long. How it's computed.
Disaggregated report - positions as of Tue 2026-09-01
| Trader category | Net position | Weekly change | % of open interest | COT index 26w | COT index 52w | COT index 3y |
|---|---|---|---|---|---|---|
| Producer/merchant | -97,022 | -748 | -34.3% | 41.8 | 26.8 | 16.5 |
| Swap dealers | 4,915 | -1,219 | 1.7% | 0.0 | 0.0 | 0.7 |
| Managed money | 72,882 | -5,766 | 25.8% | 86.0 | 86.0 | 95.0 |
| Other reportables | 7,987 | +6,887 | 2.8% | 87.8 | 95.5 | 66.8 |
| Small traders | 11,238 | +846 | 4.0% | 79.0 | 37.4 | 72.3 |
Full Disaggregated report history: CSV · switch the chart above to this report family for the full series.
Recent history
| Report date | Open interest | Large spec net | Δ | Commercial net | Δ | Small trader net |
|---|---|---|---|---|---|---|
| 2026-09-01 | 282,640 | 80,869 | -4,397 | -92,107 | +2,942 | 11,238 |
| 2026-08-25 | 283,299 | 85,266 | +5,518 | -95,049 | -4,909 | 9,783 |
| 2026-08-18 | 281,563 | 79,748 | -640 | -90,140 | +1,106 | 10,392 |
| 2026-08-11 | 297,047 | 80,388 | +3,265 | -91,246 | -5,077 | 10,858 |
| 2026-08-04 | 289,395 | 77,123 | +9,842 | -86,169 | -10,008 | 9,046 |
| 2026-07-28 | 274,552 | 67,281 | -6,696 | -76,161 | +5,951 | 8,880 |
| 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 |
Full history, no login: CSV (1989-07-31 → 2026-09-01) · JSON
Contract facts
FAQ
- Are large speculators long or short Copper futures?
- As of the 2026-09-01 COT report, large speculators (non-commercial traders) are net long 80,869 contracts in Copper futures.
- How current is this Copper COT data?
- The latest report is dated 2026-09-01 (positions as of that Tuesday's close), published by the CFTC on 2026-09-04. This page updates within minutes of each weekly release.
- Where can I download Copper COT history?
- The full weekly series (1989-07-31 to 2026-09-01) is free at /data/cot/copper.csv - no login, no cap.
Learn: how to read this report · commercials vs non-commercials · glossary
Related markets
Source: CFTC Commitments of Traders, legacy futures-only report, contract code 085692. Dataset coverage 1989-07-31 → 2026-09-01. Methodology.