| Are copper bears closing their bearish bets? That’s the talk in the market place. Open interest — the number of futures and options contracts outstanding — on the Shanghai Futures Exchange (SHFE) has fallen significantly in recent days, according to Standard Bank, including a 35,800 lot reduction on Tuesday.
It is currently 896,212 lots, down 6 per cent from the record level of 952,018 lots seen on January 30. “After going aggressively short in the second week of January, and again in the last week of January, it now seems that the Chinese copper speculators are heading for the exit,” says Standard Bank analyst Leon Westgate...............................................Full Article: Source
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