I get what you're saying, and to be honest I don;t have a CBMM quote at hand for ferroniobium price is "US$45/kg" as opposed to "US$45/kg of niobium". I have and seen plenty of quotes from others referring to ferroniobium price is "US$45/kg", including I Argo's and other analysts. If FeNb is actually priced at "US$45/kg of niobium" then FeNb is as you say only worth 65% of $45/kg (given that's the primary form niobium is refined into and sold as).
Good luck, the floor is yours
General discussion, page-908
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