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Data as of: 2026-11-06 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)

Copper(CU2612) Deep Analysis | Bearish: Positioning Breaks Below 20-Day Low, Active Short Selling | 2026-11-08

Copper(CU2612) is bearish. Core logic: Price increased and broke below the previous 20-day low of 105350, with short sellers actively driving the price down; LME inventory accumulated by nearly 83,650 tons over the last 20 days, putting pressure on international spot premiums to retreat; The net short position of the top 20 holders has expanded to 17,201 contracts, and COT managed funds' net long position has declined for four consecutive weeks. Invalidated condition: Daily close above the pivot R1 106186.67.