Group 1: Silicon Manganese - The production of silicon manganese is decreasing, with reductions expanding in Inner Mongolia and Chongqing, leading to a significant decline in output [1] - The continuous decline in market prices is causing hedging profits to turn into losses, resulting in a decrease in warehouse receipts and effective forecasts [1] - Demand remains strong with high pig iron production and recovering steel mill profits, while low inventory levels persist, indicating resilience in finished product demand [1] - Global manganese ore shipments have decreased, particularly due to a sharp drop in arrivals from South Africa, leading to a reduction in port inventories [1] - Despite the decrease in port inventories, future manganese ore shipments are expected to remain high, putting pressure on port traders due to negative profit margins [1] - Short-term expectations indicate that silicon manganese prices will continue to fluctuate and stabilize, with support strengthening as warehouse receipts decrease [1] Group 2: Silicon Iron - Recent environmental inspections in Inner Mongolia are expected to lead to a reduction in daily production by approximately 800 tons from major producers [2] - Overall, silicon iron daily production has decreased, alleviating supply pressure, although inventory levels remain at a medium to high level [2] - Demand for iron remains high, with steel mill profits recovering and resilient demand for finished products, while non-steel demand for magnesium metal is limited due to cautious purchasing [2] - The cost side shows stable prices for raw materials like Lantan, with limited supply-demand conflicts [2] - Future expectations suggest that the supply-demand imbalance for silicon iron is easing, with potential price stabilization and rebound driven by valuation recovery and macroeconomic factors [2]