No reason why you can't use the sheeting and common to simply cover over rather than removing. Screwing sheet can be problematic as it is very easy to crack the sheets and if you want flush finish countersinking is not always easy on cement sheets. Even nailing needs care so that the nails are going in on the high points of the weatherboards - easy to have the hammer go straight through. No need for SS - galvanised would be fine. Of course fastener length needs to be sufficient to go through both cladding types and securely into the frame.
Advice from me on this forum is general and for guidance based on information given by the member posing the question. Not to be used in place of professional advice from people appropriately qualified in the relevant field. All structural work must be approved and constructed to the BCA or other relevant standards by suitably licensed persons. The person doing the work and reading my advice accepts responsibility for ensuring the work done accords with the applicable law.