On January 12, 2026, the lead inventory on the Shanghai Futures Exchange was 16,489 tons, an increase of 301 tons compared to the previous trading day. Among them, the inventory in the Shanghai region was 691 tons, unchanged; the inventory in the Guangdong region was 1,055 tons, an increase of 301 tons; the inventory in the Jiangsu region was 1,982 tons, unchanged; the inventory in the Zhejiang region was 3,368 tons, unchanged; and the inventory in the Tianjin region was 9,393 tons, unchanged.

PriceSeek Analysis of Lead, Bull-Bear Score: -1
On January 12, 2026, the total lead inventory on the Shanghai Futures Exchange was 16,489 tons, an increase of 301 tons compared to the previous trading day, primarily driven by a 301-ton increase in inventory in the Guangdong region, while other regions remained unchanged. The rise in inventory indicates increased supply or weak demand, exerting downward pressure on spot lead prices, as oversupply may suppress prices. The score is generally bearish, reflecting short-term price pressure risks.