Hedge funds and other large speculators lifted their net‑long copper positions to the highest level in 20 weeks, climbing 16% to 73,523 contracts for the week ended May 12. The surge follows a sharp rally in copper prices that set a new record on New York’s COMEX by a margin of over a pound in just minutes today in New York.

Copper’s price jumped to an all‑time high of $6.7160 per pound on Wednesday, driven by a rebound in Chinese demand and escalating supply risks. Analysts say the move reflects growing uncertainty about global growth amid the Iran conflict, which has reassured investors that commodity supply chains remain tight for industrial users worldwide today.

The hefty bullish stance signals that institutional investors see copper as a hedge against supply disruptions. With prices near historic peaks, commodity traders may tighten spreads, while manufacturers could face higher input costs. The move underscores how geopolitical tensions can quickly translate into commodity price volatility for global markets today.

Investors now watch closely as copper could serve as a barometer for industrial demand recovery. Market participants will likely adjust exposure as the week closes, balancing the allure of high prices against the risk of a sudden pivot in supply dynamics for global investors today.