Core Viewpoint - The London Metal Exchange (LME) copper prices have declined due to a stronger US dollar and increased inventory in LME registered warehouses, with trading volume being low due to the Chinese New Year holiday [1]. Group 1: Copper Market - LME three-month copper fell by $231, or 1.8%, closing at $12,619.5 per ton, reaching a low of $12,586, the lowest since February 6 [1][2]. - The current copper price is down 13% from the record high of $14,527.5 reached on January 29, driven by speculative buying amid strong demand expectations [3]. - LME copper inventories have surpassed 1 million tons across major exchanges for the first time in over 20 years, with LME copper stocks reaching an 11-month high of 221,625 tons [4]. Group 2: Other Base Metals - LME three-month lead decreased by $11.5, or 0.59%, closing at $1,946.5 per ton, with inventories rising to 287,125 tons, the highest since June [4]. - LME three-month aluminum fell by $17.5, or 0.57%, closing at $3,035.0 per ton [4]. - LME three-month zinc dropped by $3.5, or 0.11%, closing at $3,286.5 per ton [4]. - LME three-month nickel decreased by $254, or 1.48%, closing at $16,861.0 per ton [5]. - LME three-month tin increased by $250, or 0.55%, closing at $45,931.0 per ton [6].

Core Viewpoint - The decline in metal prices has eased, leading to a recovery in European stock markets, with notable increases in major indices [1] Group 1: Market Performance - The UK FTSE 100 index increased by 0.26% [1] - The French CAC 40 index rose by 0.37% [1] - The German DAX 30 index saw a gain of 0.62% [1] - The Italian FTSE MIB index climbed by 0.45% [1]