Industrial Metals Flat as Lunar New Year Halts Asian Trading

Industrial metals opened little changed on February 16, 2026, as Asian markets paused for the Lunar New Year holiday and the U.S. market was closed. Copper hovered near $12,870 per ton in London after recent volatility. Aluminum steadied following a 2.7% drop on February 15 amid reports that U.S. President Trump may narrow import tariffs. Record-high prices have dampened Chinese demand, pushing exchange inventories higher. Copper stocks at major exchanges in Shanghai, London, and New York surpassed 1 million tons for the first time since 2003. The London Metal Exchange Index, which reached a record in January, has retreated slightly as traders await updates on U.S. tariffs and Federal Reserve policy. Tin declined 1.8%.