On January 15, the London Metal Exchange (LME) reported lead inventories of 211,400 tons, a decrease of 3,800 tons. Among these, registered warrants totaled 162,675 tons, while canceled warrants amounted to 48,725 tons, accounting for 23.05% of the total. PriceSeek's analysis of lead indicates a bullish-bearish score of 1.5. The reduction of 3,800 tons in LME lead inventories to 211,400 tons suggests tightening supply. The relatively high canceled warrant ratio of 23.05% reflects either an increase in potential demand or accelerated inventory outflows, which is favorable for the upward movement of spot lead prices.
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