ArcelorMittal said it expects a slight contraction in Chinese steel demand in 2021, citing the country's real estate sector.

In the longer term, Fitch forecasts prices to decline from an average $155 a tonne in 2021 to $65 a tonne by 2025 and $52 a tonne by 2030.

The average American born in 2021 will each need almost 3 million pounds of minerals, metals and fuels in their lifetime.

The pre-feasibility study estimated total project development costs at $2.77 billion and direct capital costs for rail and port development in Liberia at more than $600 million.

"(China's steel) production restrictions have suppressed expectations for winter storage and replenishment."

Most of the investment will go to its giant Minas Rio iron ore mine, located in the mineral-rich state of Minas Gerais.

A municipality of around 100,000 people reported 6,866 cancer cases in 2019, up from 1,738 in 2011.

Overall, there is little to suggest that China’s iron ore demand will stage a recovery in the coming months, writes Clyde Russell.