On February 19, 2026, copper prices experienced a slight decline, with the London Metal Exchange (LME) benchmark falling 0.2% to $12,879.50 per metric ton, following a 2.3% increase the previous day. This downturn was largely attributed to a stronger US dollar, which reached a one-week high, and rising inventories amid muted demand from China during the Lunar New Year holiday. Ilya Spivak, head of global macro at Tastylive, noted, "With China and Hong Kong closed, it’s not surprising that (copper’s) basically not doing anything and waiting for liquidity to come back." Additionally, copper stocks in LME-approved warehouses increased by 3,025 tons to 224,650 tons, the highest level since March 2025. Analysts are projecting a rebound in copper prices toward $5.90 per pound by the end of the quarter and $6.60 in the next 12 months, despite the current pressures.