On January 12, the London Metal Exchange (LME) reported zinc inventory of 106,800 tons, a decrease of 650 tons. Among these, registered warrants totaled 98,750 tons, while canceled warrants amounted to 8,050 tons, accounting for 7.54% of the total. PriceSeek's analysis of zinc, with a long-short score of 1, indicates that the LME zinc inventory decreased by 650 tons to 106,800 tons, and the canceled warrants accounted for 7.54%, suggesting some alleviation of supply pressure, which is favorable for spot prices. However, the relatively small decline in inventory and the moderate proportion of canceled warrants indicate only mild demand support, thus rating it as a generally positive factor.