On January 30, the London Metal Exchange (LME) reported lead inventories of 205,575 tons, a decrease of 2,100 tons. Among these, registered warrants totaled 186,950 tons, while canceled warrants amounted to 18,625 tons, accounting for 9.06% of the total. According to PriceSeek's analysis of lead, the long-short score is 1.5. The reduction of 2,100 tons in LME lead inventories indicates tightening supply, while the 9.06% proportion of canceled warrants reflects an increase in actual demand. This is significantly bullish for spot lead prices and is expected to drive price increases.