Australian Iron Ore Ports Brace for Cyclone

Reuters reports that iron ore prices rose on Monday as a powerful cyclone swept across Northwestern Australia, forcing ports to close.

As quoted in the market news:

Iron ore prices rose on Monday as shipments of millions of tonnes of iron ore were suspended from the west Australian ports of Port Hedland, Dampier and Cape Lambert ahead of Cyclone Christine making landfall later on Monday or early Tuesday.

Read the full Reuters story