International News 11 February 2026
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Copper Prices Rangebound as Rising Inventories and Pre-Holiday Demand Weigh
Copper prices traded in a narrow range on Tuesday (Feb 10, 2026), pressured by rising inventories and weakening demand ahead of China’s Lunar New Year holiday, although a softer U.S. dollar provided limited support. The most-traded copper contract on the Shanghai Futures Exchange (SHFE) edged up 0.05% to 101,560 yuan per ton, after briefly gaining nearly 1% earlier in the session. In contrast, benchmark three-month copper on the London Metal Exchange (LME) slipped 0.76% to US$13,076 per ton by 07:00 GMT, reflecting persistent downside pressure. Market sentiment remains cautious as visible copper inventories continue to climb globally while downstream buyers in China have largely completed pre-holiday restocking. LME warehouse stocks rose to 184,300 tons, SHFE inventories extended a nine-week increase to 248,911 tons, and COMEX stocks hit a record 535,430 tons. Although the Yangshan copper premium improved to US$38 per ton, it remains well below late-December levels, signaling subdued import demand. Analysts expect copper prices to stay rangebound in the near term, despite longer-term supply tightness, as seasonal demand weakness and high inventories dominate market dynamics.
Foreign Outflows from Asian Equities Surge as Tech Sell-Off Intensifies
Foreign fund outflows from Asian equity markets surged sharply in the first week of February, led by heavy selling in South Korea and Taiwan amid a global rout in high-growth technology stocks. According to LSEG data cited by Reuters, foreign investors recorded net equity sales of US$9.79 billion in the week ended February 6, far exceeding total outflows of about US$3.9 billion for the entire month of January. The selling followed a steep decline on Wall Street, where the Nasdaq Composite dropped as much as 4.27%, driven by concerns over surging AI-related capital expenditure, including a sharp fall in Amazon shares on worries that its 2026 capex could jump by more than 50%. South Korea saw the heaviest pressure, with foreign investors dumping US$7.48 billion worth of stocks in a single week, reversing inflows seen in January. Taiwan also recorded significant net outflows of US$3.43 billion, as sentiment toward Asian tech weakened in tandem with U.S. markets. In contrast, India stood out with net foreign inflows of US$897 million, supported by optimism over a trade deal with the United States that sharply reduced U.S. tariffs on Indian exports. Thailand, Indonesia, and the Philippines also posted modest inflows, while Vietnam experienced renewed outflows. Analysts said the episode highlights the importance of portfolio diversification as crowded AI and tech trades face rising volatility.
Gold Slips as Risk Appetite Lifts Equities, Focus Shifts to Key U.S. Data
Gold prices edged lower on Tuesday (Feb 10, 2026) as improving risk appetite boosted global equities and reduced demand for safe-haven assets, while investors awaited a busy slate of U.S. economic data that could shape the Federal Reserve’s interest-rate outlook. Spot gold fell 0.5% to US$5,040.47 per ounce by 09:00 GMT, after hitting a record high of US$5,594.82 on Jan. 29. U.S. gold futures for April delivery slipped 0.3% to US$5,062.60, with the modest rebound in the U.S. dollar adding further pressure on dollar-denominated commodities. Global stock markets strengthened, led by continued gains in Tokyo following Japanese Prime Minister Sanae Takaichi’s decisive election victory, reinforcing a broader risk-on tone. Investors are now closely watching U.S. January nonfarm payrolls data due Wednesday and inflation figures on Friday for clearer signals on the Fed’s policy path, with markets still pricing in two rate cuts in 2026. Despite the near-term pullback, analysts maintain a bullish longer-term view on gold, citing ongoing geopolitical and economic uncertainty and expectations that easier U.S. monetary policy will ultimately weigh on the dollar.