On February 20, 2026, copper prices remained under pressure, with the London Metal Exchange (LME) benchmark trading at $12,725 per metric ton, marking a decline attributed to rising global inventories and soft industrial demand. Stocks in LME-tracked warehouses increased for the 26th consecutive session, reaching 225,575 tons, the highest level since March 2025. Combined inventories across major exchanges exceeded 1 million tons, the highest since 2003, as trading volumes remained thin due to the Lunar New Year holiday in China, the world's largest consumer of metals. Analysts noted that the stronger US dollar, bolstered by robust economic data and hawkish signals from the Federal Reserve, has further pressured copper prices, which fell to around $5.75 per pound, poised for a fourth consecutive weekly decline (Trading Economics, February 20, 2026).