On February 9, 2026, the lead inventory on the Shanghai Futures Exchange was 40,773 tons, an increase of 4,968 tons compared to the previous trading day. Among them, the inventory in the Shanghai region was 3,803 tons, unchanged; the Guangdong region had 3,040 tons, unchanged; the Jiangsu region had 6,602 tons, unchanged; the Zhejiang region had 12,768 tons, an increase of 4,817 tons; and the Tianjin region had 14,560 tons, an increase of 151 tons.

PriceSeek Analysis on Lead, Bull-Bear Score: -1.5
The lead inventory on the Shanghai Futures Exchange increased by 4,968 tons to 40,773 tons compared to the previous trading day, a rise of approximately 12.2%. Notably, the inventory in the Zhejiang region surged by 4,817 tons, while the Tianjin region saw a slight increase of 151 tons, with other regions remaining unchanged. The accumulation of inventory indicates an oversupply or weak demand, exerting significant downward pressure on spot lead prices. Historical data suggests that inventory increases typically lead to intensified selling pressure in the spot market, potentially causing short-term price declines. Therefore, a bearish score of -1.5 is assigned, reflecting a generally moderate to strong negative impact.