Niobium is an important strategic metal, and the main consumption areas are low-alloy high-strength structural steel, automotive steel, high construction steel, bridge steel, petroleum steel, and amorphous magnet material fields.

Niobium resources supply is highly concentrated, being found mainly in Brazil. The high concentration of supply structure remained unchanged in 2023. On the supply side, the global production volume in 2023 amounted to approximately 83,000 tons, with Companhia Brasileira de Metalurgia e Mineração (CBMM) accounting for approximately 75% of the global market. Global niobium consumption amounted to approximately 73,500 tons. As China’s strength requirements for construction bars continued to improve, large-scale infrastructure projects, such as airports, high-speed rail stations, and large exhibition and sports facilities, gave increased attention to the various properties of the steel, and demand for ferroniobium continued to increase. Carbon-steel with 0.02%-0.03% niobium added can significantly enhance its seismic resistance, corrosion resistance, and fracture resistance properties.