Global iron trade faces disruption following port closure
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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.
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