**SMM Lead Morning Meeting Minutes: Lead Prices Weakly Test Cost Support; Inverted Pricing of Refined Recycled Lead in Some Regions**
Macro-economically, the market currently perceives a 95% likelihood of a 25 basis point interest rate cut by the Federal Reserve next week. The US Dollar Index continues to fluctuate and consolidate, while domestic fiscal stimulus measures continue to boost market sentiment. Fundamentally, the refined lead market maintains a tight balance between supply and demand. Primary lead and refined recycled lead smelters are maintaining high prices and reluctant to sell, resulting in inverted pricing of refined recycled lead in some regions...
