Copper prices today rose on Thursday, following the rise in stock exchanges in the Asia-Pacific region, reaching a six-week high, trading data show.

The cost of September futures on copper on the Comex exchange is growing by 0.76% – copper price per pound reached $3,663.

At the end of Wednesday on the London Metal Exchange (LME) the cost of a ton of copper with delivery in three months increased by 1.28% – to 8085.5 dollars, aluminum – declined by 0.04% to 2489.5 dollars, and zinc – rose by 2.04% to 3608.5 dollars per ton.

On Thursday the main Asia-Pacific stock indexes were rising within the range of 1-2% after the release of the data on a slowdown in inflation in the USA. The APR countries are the major copper consumers and this optimism positively reflects on the value of the industrial metal. Thus, the cost of copper reached a maximum of six weeks.

Also, positive statistics from the U.S. weakened fears of an aggressive increase in interest rates, which could harm economic growth and demand for the metal.

Meanwhile, investors fear for the fate of Meta financial stock. Meta admits that the trend “will not straighten out before the end of the year. The company estimates that costs will rise at least $10 billion in 2023 from $85-87 billion in 2022. However, Meta co-founder and CEO Mark Zuckerberg remains optimistic and says the company is “well-positioned to resume revenue growth” despite “near-term revenue challenges.” According to Forbes, Zuckerberg’s fortune is down $2.7 billion as a result of this stock decline.

Earlier we reported that Analyst Goldman Sachs cuts silver and gold price forecasts.