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.
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