Iron ore blasts past US$100 after mine halt


BRASILLIA: Iron ore futures surged above US$100 a tonne after Brazil’s Vale SA was ordered to suspend operations that account for about a 10th of its output after workers contracted Covid-19, boosting concerns surging cases will disrupt other mines in the top shipper after Australia.

The ruction is the latest supply shock to hit the global market over the past 18 months, following a dam burst at a Vale mine in 2019 that roiled prices as well as weather-related disruptions this year.

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