

Metals
As of Sep 8, 2026, commercial hedgers are net short at -19,848 contracts and trimmed their position by +543 week over week.
Commercial net
-19,848
Net short
Week over week
-543
Trimmed
Large specs
+15,976
Retail
+3,872
Percentile
52th
Of its own history
| Week | Commercial net | Large spec net | Retail net |
|---|---|---|---|
| Sep 8, 2026 | -19,848 | +15,976 | +3,872 |
| Sep 1, 2026 | -19,305 | +15,000 | +4,305 |
| Aug 25, 2026 | -19,580 | +15,386 | +4,194 |
| Aug 18, 2026 | -17,557 | +13,039 | +4,518 |
| Week | Commercial net | Large spec net |
|---|---|---|
| 2021-09-21 | -6995 | 1218 |
| 2021-09-28 | -10185 | 5653 |
| 2021-10-05 | -10403 | 5515 |
| 2021-10-12 | -16756 | 10919 |
| 2021-10-19 | -21176 | 14844 |
| 2021-10-26 | -21280 | 14902 |
| 2021-11-02 | -21964 | 15364 |
| 2021-11-09 | -24263 | 17630 |
| 2021-11-16 | -28225 | 21013 |
| 2021-11-23 | -20272 | 13135 |
| 2021-11-30 | -14696 | 8948 |
| 2021-12-07 | -12138 | 6062 |
| 2021-12-14 | -9661 | 3731 |
| 2021-12-21 | -7717 | 1268 |
| 2021-12-28 | -10655 | 4469 |
| 2022-01-04 | -12185 | 6762 |
| 2022-01-11 | -10952 | 5289 |
| 2022-01-18 | -12911 | 7229 |
| 2022-01-25 | -19227 | 13792 |
| 2022-02-01 | -19786 | 14581 |
| 2022-02-08 | -16638 | 11759 |
| 2022-02-15 | -16020 | 10132 |
| 2022-02-22 | -22887 | 17540 |
| 2022-03-01 | -24196 | 16890 |
| 2022-03-08 | -32358 | 25833 |
| 2022-03-15 | -25692 | 17932 |
| 2022-03-22 | -27047 | 19815 |
| 2022-03-29 | -20754 | 14001 |
| 2022-04-05 | -17905 | 11290 |
| 2022-04-12 | -13233 | 6415 |
| 2022-04-19 | -13812 | 7537 |
| 2022-04-26 | -3986 | -2357 |
| 2022-05-03 | -3667 | -1541 |
| 2022-05-10 | -5373 | 1363 |
| 2022-05-17 | -6697 | 2203 |
| 2022-05-24 | -6683 | 1485 |
| 2022-05-31 | -6501 | 2363 |
| 2022-06-07 | -9742 | 5933 |
| 2022-06-14 | -6793 | 2214 |
| 2022-06-21 | -6397 | 1491 |
| 2022-06-28 | -3381 | -1306 |
| 2022-07-05 | -1670 | -2734 |
| 2022-07-12 | 1235 | -5911 |
| 2022-07-19 | -273 | -4282 |
| 2022-07-26 | -171 | -4468 |
| 2022-08-02 | -1708 | -2541 |
| 2022-08-09 | -4055 | 846 |
| 2022-08-16 | -6361 | 2940 |
| 2022-08-23 | -3049 | -576 |
| 2022-08-30 | 646 | -5378 |
| 2022-09-06 | 3152 | -6751 |
| 2022-09-13 | -2051 | -1879 |
| 2022-09-20 | -5496 | 2390 |
| 2022-09-27 | -2525 | 161 |
| 2022-10-04 | -7137 | 3281 |
| 2022-10-11 | -8690 | 5928 |
| 2022-10-18 | -11632 | 8494 |
| 2022-10-25 | -14971 | 11381 |
| 2022-11-01 | -19690 | 15987 |
| 2022-11-08 | -23295 | 19449 |
| 2022-11-15 | -27037 | 22544 |
| 2022-11-22 | -27538 | 22490 |
| 2022-11-29 | -28762 | 24259 |
| 2022-12-06 | -30148 | 25636 |
| 2022-12-13 | -32624 | 28445 |
| 2022-12-20 | -29524 | 24052 |
| 2022-12-27 | -29564 | 24666 |
| 2023-01-03 | -33157 | 30503 |
| 2023-01-10 | -34346 | 30702 |
| 2023-01-17 | -28913 | 23544 |
| 2023-01-24 | -25819 | 20261 |
| 2023-01-31 | -22213 | 16137 |
| 2023-02-07 | -16529 | 10620 |
| 2023-02-14 | -12265 | 5998 |
| 2023-02-21 | -8394 | 2905 |
| 2023-02-28 | -9876 | 5297 |
| 2023-03-07 | -8857 | 5145 |
| 2023-03-14 | -14322 | 10573 |
| 2023-03-21 | -14141 | 9526 |
| 2023-03-28 | -14781 | 10374 |
| 2023-04-04 | -19201 | 15423 |
| 2023-04-11 | -18511 | 13333 |
| 2023-04-18 | -28202 | 24319 |
| 2023-04-25 | -34316 | 29617 |
| 2023-05-02 | -31394 | 26687 |
| 2023-05-09 | -32484 | 28084 |
| 2023-05-16 | -30405 | 25823 |
| 2023-05-23 | -32157 | 27479 |
| 2023-05-30 | -27973 | 23406 |
| 2023-06-06 | -28747 | 24613 |
| 2023-06-13 | -27285 | 21972 |
| 2023-06-20 | -25052 | 19472 |
| 2023-06-27 | -18627 | 12160 |
| 2023-07-03 | -13570 | 8067 |
| 2023-07-11 | -13912 | 7787 |
| 2023-07-18 | -19674 | 15736 |
| 2023-07-25 | -20441 | 15487 |
| 2023-08-01 | -17459 | 12290 |
| 2023-08-08 | -8591 | 2992 |
| 2023-08-15 | -5866 | 1 |
| 2023-08-22 | -6313 | 834 |
| 2023-08-29 | -18431 | 15038 |
| 2023-09-05 | -19001 | 14602 |
| 2023-09-12 | -12396 | 6721 |
| 2023-09-19 | -14632 | 9994 |
| 2023-09-26 | -12349 | 7326 |
| 2023-10-03 | -7514 | 2616 |
| 2023-10-10 | -5138 | -36 |
| 2023-10-17 | -5451 | 349 |
| 2023-10-24 | -4832 | -480 |
| 2023-10-31 | -14186 | 10826 |
| 2023-11-07 | -11996 | 6958 |
| 2023-11-14 | -2365 | -3996 |
| 2023-11-21 | -11257 | 7136 |
| 2023-11-28 | -14272 | 10034 |
| 2023-12-05 | -9183 | 5133 |
| 2023-12-12 | -11713 | 7709 |
| 2023-12-19 | -21545 | 16998 |
| 2023-12-26 | -27645 | 23662 |
| 2024-01-02 | -32850 | 29039 |
| 2024-01-09 | -28380 | 23541 |
| 2024-01-16 | -18498 | 12557 |
| 2024-01-23 | -15097 | 8341 |
| 2024-01-30 | -17074 | 11549 |
| 2024-02-06 | -15729 | 9534 |
| 2024-02-13 | -8229 | 1938 |
| 2024-02-20 | -14471 | 8495 |
| 2024-02-27 | -9201 | 3601 |
| 2024-03-05 | -3266 | -4364 |
| 2024-03-12 | -13041 | 7419 |
| 2024-03-19 | -13078 | 6280 |
| 2024-03-26 | -12475 | 7195 |
| 2024-04-02 | -13982 | 8589 |
| 2024-04-09 | -24316 | 19007 |
| 2024-04-16 | -23614 | 18241 |
| 2024-04-23 | -14798 | 7464 |
| 2024-04-30 | -12570 | 6797 |
| 2024-05-07 | -18348 | 13660 |
| 2024-05-14 | -28194 | 24447 |
| 2024-05-21 | -31634 | 27649 |
| 2024-05-28 | -32140 | 27567 |
| 2024-06-04 | -28123 | 22566 |
| 2024-06-11 | -23011 | 15698 |
| 2024-06-18 | -23348 | 15864 |
| 2024-06-25 | -27352 | 20603 |
| 2024-07-02 | -30013 | 23956 |
| 2024-07-09 | -29563 | 22666 |
| 2024-07-16 | -29083 | 21948 |
| 2024-07-23 | -20175 | 12208 |
| 2024-07-30 | -21025 | 14314 |
| 2024-08-06 | -15925 | 10291 |
| 2024-08-13 | -18610 | 11939 |
| 2024-08-20 | -21273 | 14826 |
| 2024-08-27 | -22157 | 15733 |
| 2024-09-03 | -10141 | 1388 |
| 2024-09-10 | -16416 | 10003 |
| 2024-09-17 | -27031 | 21978 |
| 2024-09-24 | -29540 | 24401 |
| 2024-10-01 | -33718 | 28132 |
| 2024-10-08 | -31009 | 23657 |
| 2024-10-15 | -34539 | 28387 |
| 2024-10-22 | -40735 | 34876 |
| 2024-10-29 | -41451 | 35543 |
| 2024-11-05 | -35774 | 29041 |
| 2024-11-12 | -28419 | 20233 |
| 2024-11-19 | -29759 | 22676 |
| 2024-11-26 | -26647 | 18660 |
| 2024-12-03 | -28718 | 20486 |
| 2024-12-10 | -23288 | 14829 |
| 2024-12-17 | -21341 | 13744 |
| 2024-12-24 | -21635 | 15648 |
| 2024-12-31 | -13911 | 5656 |
| 2025-01-07 | -22123 | 17847 |
| 2025-01-14 | -20344 | 15560 |
| 2025-01-21 | -20610 | 14608 |
| 2025-01-28 | -19483 | 13373 |
| 2025-02-04 | -23739 | 18975 |
| 2025-02-11 | -28593 | 25730 |
| 2025-02-18 | -27658 | 23537 |
| 2025-02-25 | -23660 | 16176 |
| 2025-03-04 | -20401 | 13852 |
| 2025-03-11 | -21342 | 15748 |
| 2025-03-18 | -23817 | 20507 |
| 2025-03-25 | -20060 | 13558 |
| 2025-04-01 | -19437 | 14975 |
| 2025-04-08 | -8011 | -794 |
| 2025-04-15 | -12448 | 6034 |
| 2025-04-22 | -11652 | 5677 |
| 2025-04-29 | -14822 | 9962 |
| 2025-05-06 | -14040 | 9510 |
| 2025-05-13 | -13469 | 9316 |
| 2025-05-20 | -17517 | 17396 |
| 2025-05-27 | -25889 | 25343 |
| 2025-06-03 | -23233 | 20049 |
| 2025-06-10 | -31881 | 26979 |
| 2025-06-17 | -28942 | 23227 |
| 2025-06-24 | -30113 | 25212 |
| 2025-07-01 | -28136 | 22642 |
| 2025-07-08 | -26351 | 20774 |
| 2025-07-15 | -22849 | 19302 |
| 2025-07-22 | -24025 | 20675 |
| 2025-07-29 | -25026 | 20568 |
| 2025-08-05 | -22999 | 16662 |
| 2025-08-12 | -23015 | 17788 |
| 2025-08-19 | -20674 | 15050 |
| 2025-08-26 | -21441 | 15786 |
| 2025-09-02 | -22430 | 16998 |
| 2025-09-09 | -20210 | 14356 |
| 2025-09-16 | -21087 | 15203 |
| 2025-09-23 | -25329 | 22042 |
| 2025-09-30 | -25263 | 21765 |
| 2025-10-07 | -22843 | 18341 |
| 2025-10-14 | -23716 | 18953 |
| 2025-10-21 | -22992 | 16874 |
| 2025-10-28 | -25178 | 19550 |
| 2025-11-04 | -24883 | 18694 |
| 2025-11-10 | -24746 | 18885 |
| 2025-11-18 | -23757 | 16573 |
| 2025-11-25 | -22939 | 15979 |
| 2025-12-02 | -23286 | 15980 |
| 2025-12-09 | -25319 | 19890 |
| 2025-12-16 | -28564 | 23293 |
| 2025-12-23 | -25401 | 19343 |
| 2025-12-30 | -23636 | 18042 |
| 2026-01-06 | -23914 | 18110 |
| 2026-01-13 | -23806 | 17594 |
| 2026-01-20 | -21782 | 15124 |
| 2026-01-27 | -22026 | 13922 |
| 2026-02-03 | -20207 | 13106 |
| 2026-02-10 | -18778 | 12084 |
| 2026-02-17 | -18536 | 12347 |
| 2026-02-24 | -19605 | 13240 |
| 2026-03-03 | -20270 | 13832 |
| 2026-03-10 | -20916 | 14690 |
| 2026-03-17 | -22917 | 16898 |
| 2026-03-24 | -21749 | 16198 |
| 2026-03-31 | -21603 | 16337 |
| 2026-04-07 | -23034 | 18038 |
| 2026-04-14 | -25259 | 20603 |
| 2026-04-21 | -25387 | 20536 |
| 2026-04-28 | -23206 | 18550 |
| 2026-05-05 | -22651 | 17785 |
| 2026-05-12 | -25518 | 20712 |
| 2026-05-19 | -23112 | 17908 |
| 2026-05-26 | -23307 | 17658 |
| 2026-06-02 | -23384 | 17212 |
| 2026-06-09 | -20552 | 15012 |
| 2026-06-16 | -19697 | 14608 |
| 2026-06-23 | -19123 | 15095 |
| 2026-06-30 | -18323 | 15001 |
| 2026-07-07 | -17702 | 13872 |
| 2026-07-14 | -17586 | 13748 |
| 2026-07-21 | -16779 | 12484 |
| 2026-07-28 | -16151 | 11635 |
| 2026-08-04 | -18442 | 14761 |
| 2026-08-11 | -18414 | 13540 |
| 2026-08-18 | -17557 | 13039 |
| 2026-08-25 | -19580 | 15386 |
| 2026-09-01 | -19305 | 15000 |
| 2026-09-08 | -19848 | 15976 |
The latest commercial net sits in the 52th percentile of everything this market has printed since Sep 21, 2021.
| Index | Value |
|---|---|
| 1 | -6995 |
| 2 | -10185 |
| 3 | -10403 |
| 4 | -16756 |
| 5 | -21176 |
| 6 | -21280 |
| 7 | -21964 |
| 8 | -24263 |
| 9 | -28225 |
| 10 | -20272 |
| 11 | -14696 |
| 12 | -12138 |
| 13 | -9661 |
| 14 | -7717 |
| 15 | -10655 |
| 16 | -12185 |
| 17 | -10952 |
| 18 | -12911 |
| 19 | -19227 |
| 20 | -19786 |
| 21 | -16638 |
| 22 | -16020 |
| 23 | -22887 |
| 24 | -24196 |
| 25 | -32358 |
| 26 | -25692 |
| 27 | -27047 |
| 28 | -20754 |
| 29 | -17905 |
| 30 | -13233 |
| 31 | -13812 |
| 32 | -3986 |
| 33 | -3667 |
| 34 | -5373 |
| 35 | -6697 |
| 36 | -6683 |
| 37 | -6501 |
| 38 | -9742 |
| 39 | -6793 |
| 40 | -6397 |
| 41 | -3381 |
| 42 | -1670 |
| 43 | 1235 |
| 44 | -273 |
| 45 | -171 |
| 46 | -1708 |
| 47 | -4055 |
| 48 | -6361 |
| 49 | -3049 |
| 50 | 646 |
| 51 | 3152 |
| 52 | -2051 |
| Aug 11, 2026 | -18,414 | +13,540 | +4,874 |
| Aug 4, 2026 | -18,442 | +14,761 | +3,681 |
| Jul 28, 2026 | -16,151 | +11,635 | +4,516 |
| Jul 21, 2026 | -16,779 | +12,484 | +4,295 |
| Jul 14, 2026 | -17,586 | +13,748 | +3,838 |
| Jul 7, 2026 | -17,702 | +13,872 | +3,830 |
| Jun 30, 2026 | -18,323 | +15,001 | +3,322 |
| Jun 23, 2026 | -19,123 | +15,095 | +4,028 |
| 53 | -5496 |
|---|
| 54 | -2525 |
|---|
| 55 | -7137 |
|---|
| 56 | -8690 |
|---|
| 57 | -11632 |
|---|
| 58 | -14971 |
|---|
| 59 | -19690 |
|---|
| 60 | -23295 |
|---|
| 61 | -27037 |
|---|
| 62 | -27538 |
|---|
| 63 | -28762 |
|---|
| 64 | -30148 |
|---|
| 65 | -32624 |
|---|
| 66 | -29524 |
|---|
| 67 | -29564 |
|---|
| 68 | -33157 |
|---|
| 69 | -34346 |
|---|
| 70 | -28913 |
|---|
| 71 | -25819 |
|---|
| 72 | -22213 |
|---|
| 73 | -16529 |
|---|
| 74 | -12265 |
|---|
| 75 | -8394 |
|---|
| 76 | -9876 |
|---|
| 77 | -8857 |
|---|
| 78 | -14322 |
|---|
| 79 | -14141 |
|---|
| 80 | -14781 |
|---|
| 81 | -19201 |
|---|
| 82 | -18511 |
|---|
| 83 | -28202 |
|---|
| 84 | -34316 |
|---|
| 85 | -31394 |
|---|
| 86 | -32484 |
|---|
| 87 | -30405 |
|---|
| 88 | -32157 |
|---|
| 89 | -27973 |
|---|
| 90 | -28747 |
|---|
| 91 | -27285 |
|---|
| 92 | -25052 |
|---|
| 93 | -18627 |
|---|
| 94 | -13570 |
|---|
| 95 | -13912 |
|---|
| 96 | -19674 |
|---|
| 97 | -20441 |
|---|
| 98 | -17459 |
|---|
| 99 | -8591 |
|---|
| 100 | -5866 |
|---|
| 101 | -6313 |
|---|
| 102 | -18431 |
|---|
| 103 | -19001 |
|---|
| 104 | -12396 |
|---|
| 105 | -14632 |
|---|
| 106 | -12349 |
|---|
| 107 | -7514 |
|---|
| 108 | -5138 |
|---|
| 109 | -5451 |
|---|
| 110 | -4832 |
|---|
| 111 | -14186 |
|---|
| 112 | -11996 |
|---|
| 113 | -2365 |
|---|
| 114 | -11257 |
|---|
| 115 | -14272 |
|---|
| 116 | -9183 |
|---|
| 117 | -11713 |
|---|
| 118 | -21545 |
|---|
| 119 | -27645 |
|---|
| 120 | -32850 |
|---|
| 121 | -28380 |
|---|
| 122 | -18498 |
|---|
| 123 | -15097 |
|---|
| 124 | -17074 |
|---|
| 125 | -15729 |
|---|
| 126 | -8229 |
|---|
| 127 | -14471 |
|---|
| 128 | -9201 |
|---|
| 129 | -3266 |
|---|
| 130 | -13041 |
|---|
| 131 | -13078 |
|---|
| 132 | -12475 |
|---|
| 133 | -13982 |
|---|
| 134 | -24316 |
|---|
| 135 | -23614 |
|---|
| 136 | -14798 |
|---|
| 137 | -12570 |
|---|
| 138 | -18348 |
|---|
| 139 | -28194 |
|---|
| 140 | -31634 |
|---|
| 141 | -32140 |
|---|
| 142 | -28123 |
|---|
| 143 | -23011 |
|---|
| 144 | -23348 |
|---|
| 145 | -27352 |
|---|
| 146 | -30013 |
|---|
| 147 | -29563 |
|---|
| 148 | -29083 |
|---|
| 149 | -20175 |
|---|
| 150 | -21025 |
|---|
| 151 | -15925 |
|---|
| 152 | -18610 |
|---|
| 153 | -21273 |
|---|
| 154 | -22157 |
|---|
| 155 | -10141 |
|---|
| 156 | -16416 |
|---|
| 157 | -27031 |
|---|
| 158 | -29540 |
|---|
| 159 | -33718 |
|---|
| 160 | -31009 |
|---|
| 161 | -34539 |
|---|
| 162 | -40735 |
|---|
| 163 | -41451 |
|---|
| 164 | -35774 |
|---|
| 165 | -28419 |
|---|
| 166 | -29759 |
|---|
| 167 | -26647 |
|---|
| 168 | -28718 |
|---|
| 169 | -23288 |
|---|
| 170 | -21341 |
|---|
| 171 | -21635 |
|---|
| 172 | -13911 |
|---|
| 173 | -22123 |
|---|
| 174 | -20344 |
|---|
| 175 | -20610 |
|---|
| 176 | -19483 |
|---|
| 177 | -23739 |
|---|
| 178 | -28593 |
|---|
| 179 | -27658 |
|---|
| 180 | -23660 |
|---|
| 181 | -20401 |
|---|
| 182 | -21342 |
|---|
| 183 | -23817 |
|---|
| 184 | -20060 |
|---|
| 185 | -19437 |
|---|
| 186 | -8011 |
|---|
| 187 | -12448 |
|---|
| 188 | -11652 |
|---|
| 189 | -14822 |
|---|
| 190 | -14040 |
|---|
| 191 | -13469 |
|---|
| 192 | -17517 |
|---|
| 193 | -25889 |
|---|
| 194 | -23233 |
|---|
| 195 | -31881 |
|---|
| 196 | -28942 |
|---|
| 197 | -30113 |
|---|
| 198 | -28136 |
|---|
| 199 | -26351 |
|---|
| 200 | -22849 |
|---|
| 201 | -24025 |
|---|
| 202 | -25026 |
|---|
| 203 | -22999 |
|---|
| 204 | -23015 |
|---|
| 205 | -20674 |
|---|
| 206 | -21441 |
|---|
| 207 | -22430 |
|---|
| 208 | -20210 |
|---|
| 209 | -21087 |
|---|
| 210 | -25329 |
|---|
| 211 | -25263 |
|---|
| 212 | -22843 |
|---|
| 213 | -23716 |
|---|
| 214 | -22992 |
|---|
| 215 | -25178 |
|---|
| 216 | -24883 |
|---|
| 217 | -24746 |
|---|
| 218 | -23757 |
|---|
| 219 | -22939 |
|---|
| 220 | -23286 |
|---|
| 221 | -25319 |
|---|
| 222 | -28564 |
|---|
| 223 | -25401 |
|---|
| 224 | -23636 |
|---|
| 225 | -23914 |
|---|
| 226 | -23806 |
|---|
| 227 | -21782 |
|---|
| 228 | -22026 |
|---|
| 229 | -20207 |
|---|
| 230 | -18778 |
|---|
| 231 | -18536 |
|---|
| 232 | -19605 |
|---|
| 233 | -20270 |
|---|
| 234 | -20916 |
|---|
| 235 | -22917 |
|---|
| 236 | -21749 |
|---|
| 237 | -21603 |
|---|
| 238 | -23034 |
|---|
| 239 | -25259 |
|---|
| 240 | -25387 |
|---|
| 241 | -23206 |
|---|
| 242 | -22651 |
|---|
| 243 | -25518 |
|---|
| 244 | -23112 |
|---|
| 245 | -23307 |
|---|
| 246 | -23384 |
|---|
| 247 | -20552 |
|---|
| 248 | -19697 |
|---|
| 249 | -19123 |
|---|
| 250 | -18323 |
|---|
| 251 | -17702 |
|---|
| 252 | -17586 |
|---|
| 253 | -16779 |
|---|
| 254 | -16151 |
|---|
| 255 | -18442 |
|---|
| 256 | -18414 |
|---|
| 257 | -17557 |
|---|
| 258 | -19580 |
|---|
| 259 | -19305 |
|---|
| 260 | -19848 |
|---|