Nothing inconsistent there whatsoever, simply your lack of comprehension.
Clearly NdPr has always been in over supply and particularly ROW past couple of years with nearly 50% of production being sold into China.
That's changed for the better this year with the production of NdO, 90% of Japan's magnet inputs being met ROW but still ~1000t will be sold into China simply due lack of ROW NdFeB manufacturing capability.
While the Japanese are finally expanding to meet domestic demand the 12% growth in China exports suggests the current excess supply will be absorbed near term, particularly if Chinese domestic demand recovers this year.
What you should be concerned about is how that demand will be met coming decade, and I'll suggest a VERY different scenario from the happy clappers chart in ARU's PDF's.
Chinese 5YP had the objective of 140ktpa production 2020 and quota increases suggest that will be achieved this year, effectively absorbing "illegal" production and bring it into the tax net under State control = 28ktpa NdPr.
Imports of concentrate from MtP reached 60kt last year, nothing to suggest that is going to change other than net oxides = 12ktpa NdPr
Recycled swarf from NdFeB machining 155kt magnetic blanks down to ~120kt net NdFeB = 35kt x 28% = 10ktpa NdPr.
Broadly 45/50ktpa NdPr which gives some idea of China's processing capacity, add current ROW 7.2ktpa, plus 10.5ktpa projected 2025 and it's not really all that difficult to see that demand growth being met, also remembering Chinese are forecasting another 10ktpa of NdFeB flowing from End of Life recycling second half of the decade.
The real Q is how can ROW build out the NdFeB manufacturing capacity NOT to be at the mercy of China NdFeB, and there is already more than ample NdPr supply capacity to do that well into next decade.
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