[SMM Lead Morning Meeting Summary: Macro Policy Expectations Dominate, Lead Prices Fluctuate Upward]
China's Government Work Report: The GDP growth target for 2025 is around 5%, CPI increase around 2%, and deficit ratio around 4%. Recently, boosted by domestic macro policy expectations, base metals have generally strengthened. As for the lead market fundamentals, the divergence in domestic and overseas lead ingot inventory remains unchanged, while the commissioning of new secondary lead capacity in China continues to advance...
