Shorting of copperI posted this on another board but the numbers might be of interest for Taseko holders:
According to commitment-of-traders (COTS) report for [url=https://www.barchart.com/futures/commitment-of-traders/technical-charts/HG*0]copper[/url], the "managed money" were record long by 80K contracts at the start of the rout and didn't turn net short until the beginning of July, when the price already dropped to pretty much the current level. In one month - from mid-June to mid-July - they went from 80K contracts long to 25K contracts short, dumping 1.2 million tons or 6% of worldwide annual production. No wonder the price dived. The ones that sold in June, did well. The ones that are holding short positions now (which is up to 30.6K contracts or about 350K tons) will have a challenge trying to cover without causing the price to run up. If the history is any guide, they won't be able to.