On January 16, 2026, the lead inventory on the Shanghai Futures Exchange was 27,264 tons, an increase of 1,191 tons compared to the previous trading day. Among them, the inventory in Shanghai was 3,803 tons, unchanged; Guangdong had 2,744 tons, unchanged; Jiangsu had 4,608 tons, unchanged; Zhejiang had 3,882 tons, an increase of 991 tons; and Tianjin had 12,227 tons, an increase of 200 tons.

PriceSeek Analysis on Lead, Bull-Bear Score: -1
The article indicates that the lead inventory on the Shanghai Futures Exchange increased by 1,191 tons, with Zhejiang adding 991 tons and Tianjin adding 200 tons, while other regions remained unchanged. The rise in inventory suggests ample market supply and potentially weak demand, which exerts downward pressure on the spot price of lead and may lead to a decline. Therefore, a bearish score of -1 is assigned.