On January 7, the London Metal Exchange (LME) reported lead inventories of 230,425 tons, a decrease of 2,925 tons. Among these, registered warrants amounted to 162,500 tons, while canceled warrants totaled 67,925 tons, accounting for 29.48% of the total. PriceSeek's analysis of lead indicates a bullish-bearish score of 1. The LME lead inventory decreased by 2,925 tons, with canceled warrants making up 29.48%, suggesting tight market supply and strong demand, which is favorable for spot lead prices. The decline in inventories reflects a supply-demand imbalance, and the high proportion of canceled warrants indicates a reduction in deliverable resources, potentially driving spot prices upward.