【SMM Lead Morning Meeting Minutes: Internal strength and external weakness of overnight lead, consumption weakening towards the end of the month, market sentiment cautious】

On the macro level, the yen hits new lows, the Federal Reserve is in no rush to cut interest rates, and the dollar index is relatively strong and volatile. Domestically, as we approach the end of the month, the domestic fundamentals have slightly weakened, downstream finished product inventories have increased slightly before the Qingming Festival, and the enthusiasm for raw material reserves is generally low. On the supply side...