SMM Lead Morning Meeting: Prices Consolidate, Smelters Wait-and-See Amid Macro and Fundamentals Shifts

[SMM Lead Morning Meeting Summary: Lead Prices Consolidate at High Levels, Smelters Stand Firm on Quotes with Strong Sentiment of Wait-and-See]

Macro side, the US dollar index continues to fluctuate upward, and US inflation data may provide clues for the US Fed's monetary easing path. Fundamentals side, primary lead maintenance and recovery coexist, while secondary refined lead production slowly recovers with slight discounts on shipments, easing the situation of standing firm on quotes and reluctance to sell. Additionally, with the end of the peak season for battery replacement, battery scrap recycling has also entered the off-season. Future attention is still needed on raw material supply and whether battery scrap prices will affect secondary refined lead production...