Iron ore advanced to the strongest level since the middle of October as heavy rains disrupted southeastern Brazil’s iron ore industry, with the world’s No. 2 producer Vale SA among companies halting operations and regulators sent to monitor the impact on tailings dams.
Vale has partially suspended services on the Estrada de Ferro Vitoria a Minas railway as well as production at its southeastern and southern systems “to guarantee the safety of its employees and communities,” the Rio de Janeiro-based supplier said in a statement Monday.
