Global iron trade faces disruption following port closure

Rio de Janeiro

THE global iron ore trade may be disrupted after Vale SA, the world's largest producer, was ordered by a Brazilian court to temporarily close one of its main ports following alleged environmental breaches. Futures for the raw material in Asia surged.

The court in Brazil's Espirito Santo state ordered a halt to export and import activities through Tubarao port after iron ore and coal dust were found in the sea.

Vale received the news from federal police "with surprise" and will use "all appropriate legal measures to ensure the re-esta…