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.