Hi mate, nice thinking!
I agree with your point of view. Shanghai Jayson is a major shareholder of SGQ too and I believe they will also support this point of view. Indeed, niobium is of great significance to steel mills, because adding niobium can increase the yield strength of steel by at least 30%! You can refer to the major steel structure buildings recent years, which all add niobium to steel to improve the strength of steel, such as the Marina Bay Sands in Singapore, the Optus stadium in Perth, etc.
The Chinese investors of CBMM are all huge consortiums composed of steel companies, and even the nearby China Molybdenum Co., Ltd. will have great interest in the mining of this project.
Cheers!
Summary of major niobium transactions around the world in recent years, page-4
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