By Steve Fiscor, Editor

The tragic collapse of the tailings dam at Vale’s Corrego do Feijão iron ore mine near Brumadinho, Brazil, caused global spot prices for iron ore to move higher.

According to the E&MJ Price Index, iron ore prices on February 1 settled at $86.93 per dry metric ton (dmt), a $17.73/dmt (25.6%) increase over the 2018 year-end price of $69.20/dmt. Speculators thought prices could eventually top $100/dmt.
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