"SMM lead morning meeting minutes: Period lead continues to decline, weakening trend unchanged after the reduction in the price of waste batteries, domestic lead prices are supported by cost downward movement.

On the macro side, the focus of this week is on the ADP employment in the United States in November, the unemployment rate in the United States in November, and the seasonally adjusted non-agricultural employment in the United States in November.

On the domestic fundamentals, the supply of primary lead and recycled lead is expected to increase, while lead consumption is performing poorly, leading to a temporary mismatch in supply and demand, resulting in a significant increase in lead ingot inventory, dragging down lead prices continuously."