Copper prices rebounded on Thursday morning, reclaiming the $4-per-pound level below which they had dipped earlier in the week.
 
With global growth concerns taking hold in markets this week, it was only natural to see copper prices move into reverse. Inflation data from China stoked fears of further monetary tightening in that country, whose appetite for the red metal has hitherto appeared to be insatiable, but these fears were allayed somewhat after Chinese copper imports for July rose to levels not seen since the beginning of 2011, giving hope of a surge in regional demand.
 
Copper prices spent much of May to July bouncing along the support level of around $4 per pound, but analysts from Canaccord expect tight supply levels, and rising mining costs will push prices higher from here. However, the recoveries in risk appetite that we have seen in the past week have proven to be short-lived, and it may take yet more coordinated action from central banks to lift sentiment out of the doldrums. Until that happens, copper prices will continue, like stock markets in general, to find the going fairly difficult.