Copper Futures Open Interest in 2015
Copper Futures Open Interest opened 2015 at 170,037 and closed at 167,689, a -1.38% move for the year. The high of 195,117 was reached on August 11, and the low of 151,710 on September 29.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 170,037 | 179,152 | 179,459 | 170,037 | +5.36% |
| Feb | 180,944 | 171,520 | 185,675 | 171,520 | -5.21% |
| Mar | 163,020 | 170,125 | 170,125 | 163,020 | +4.36% |
| Apr | 171,006 | 154,447 | 171,006 | 154,447 | -9.68% |
| May | 166,179 | 172,622 | 179,210 | 166,179 | +3.88% |
| Jun | 160,588 | 166,278 | 184,635 | 160,588 | +3.54% |
| Jul | 167,008 | 163,656 | 167,008 | 161,713 | -2.01% |
| Aug | 181,276 | 166,991 | 195,117 | 166,991 | -7.88% |
| Sep | 158,648 | 151,710 | 159,016 | 151,710 | -4.37% |
| Oct | 153,387 | 165,946 | 165,946 | 153,387 | +8.19% |
| Nov | 165,386 | 186,199 | 193,328 | 165,386 | +12.58% |
| Dec | 180,517 | 167,689 | 180,517 | 167,689 | -7.11% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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