China's demand is weak and copper prices are under upward pressure

As investors worried about Greece's debt default and China's sluggish demand, copper prices continued to adjust on Thursday. LME March copper closed down 95 US dollars to 8,345 USdollars/ton.

Judging from the recent disk performance, the pattern of copper prices is stronger, weaker, weaker and weaker. The domestic copper price is not as strong as it is rising, indicating that domestic demand is weak after the Spring Festival. This is the main factor in suppressing the rising price of copper. The uncertainty on the macro level is also doomed to the copper price rise is difficult to smooth.

Shanghai Copper failed to recover 60,000 integer points on Thursday and it was under heavy upward pressure in the short term. The proposal focuses on the forthcoming non-agricultural employment data in the United States. Once the data performance is poor, the copper price may face further correction. Operationally, we suggest that investors can rely on light positions to back up 60,000 shorts, waiting for further operations after the US-Afghanistan data is released.