On February 9, the London Metal Exchange (LME) reported zinc inventories of 106,925 tons, a decrease of 675 tons. Among these, registered warehouse receipts totaled 94,450 tons, while canceled warehouse receipts amounted to 12,475 tons, accounting for 11.67% of the total. PriceSeek’s analysis of zinc indicates a bullish-bearish score of 1. The LME zinc inventories decreased by 675 tons to 106,925 tons, with canceled warehouse receipts making up 11.67%, suggesting a slight tightening in supply and positive demand signals, which is favorable for spot zinc prices. The reduction in inventories reflects a temporary easing of supply pressure, while the relatively high proportion of canceled warehouse receipts indicates an increase in potential outbound demand, which may drive up spot prices.