Because the world’s largest iron ore miner CVRD Brazil received a court order – the company was required to temporarily shut down after the alleged destruction of the environment is an important port, the global iron ore trade may meet resistance. Affected by the news, futures and Asian iron ore mining company’s share price soared.

January 22 Singapore SGXAsiaClear soaring iron ore contract was 6.9 percent, $ 39.90 a tonne. Dalian Commodity Exchange futures was up 3.2% iron ore.

Since CVRD, BHP Billiton and Rio Tinto Group, the world’s largest manufacturer of low-cost products to improve supply, and cooling economic growth in China, leading to excess supply, iron ore prices fell sharply in the past three years.

Citigroup (Citi) noted that the progress of the legal cases and the length depends on the closing time of Tubarao Port incident. Citigroup estimated that the port throughput of about 110 million tons of ore a year. According to the estimates, which is equivalent to about 8% of total global shipments.