Copper price rebounded on Thursday as the dollar weakened, forcing speculators to scramble to buy back their bearish positions. Copper for delivery in September rose 1.7% on the Comex market in New York, touching $3.52 per pound ($7,744 per tonne). “The buying was largely based on technical levels because the short-term trend in copper had become bullish,” said Gianclaudio Torlizzi, partner at consultancy T-Commodity in Milan. Copper has lost nearly 30% since hitting a record high of $10,910 a tonne in March. This week’s recovery, however, is only a temporary bounce within a wider bear market, said Tom Price, head of ... (full story)